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3rd Grade Economy Review Flashcards | StudBud
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3rd Grade Economy Review
3rd Grade Economy Review
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A Quiz to review unit on Economy
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
A person or company who makes products that are later sold in a store is known as the
consumer
producer
2
Which is the word that means that people rely on each other?
interdependence
wants
independence
needs
3
Which of these is another name for money which we use to pay for goods and services?
savings
currency
taxes
coupons
4
Which is a good reason to have a checking account at a bank?
Checks and debit cards are fun.
The bank will not let you spend your money.
Your money is safer there than at your home.
Banks give away free pens.
5
Jeremy started a logging business with his uncle. Which productive resource is this?
entrepreneurship
consumer
friendship
natural resource
6
When there isn't enough of a product to meet the demand, this is known as
scarcity
surplus
7
Goods that are brought into the US from other countries are called
exchange
technology
exports
imports
8
Which of these are natural resources?
newspapers & books
trees and oil
pots and pans
shampoo bottles & hairspray
9
A person who purchases goods and services is known as the
consumer
producer
10
Which of these is a human resource?
saw
lumber
building
carpenter
11
Which of these is a capital resource?
lawn mower
a landscaper
a flower bed
a green yard
12
Which is a service?
Legos
eating chicken tenders
babysitting
cooking for yourself
13
To provide goods and services to the public, the government
sells goods
holds fundraisers like bake sales
hosts parties
collects taxes
14
If an XBOX game costs $12 and the price drops to $10, what might happen?
More people might be able to buy the game.
No one will buy the game.
The game will be more fun.
Stores will stop selling the game.
15
Goods that are shipped to other countries to be sold there are called
exchanges
services
imports
exports