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Intro. to Economics Flashcards | StudBud
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Intro. to Economics
Intro. to Economics
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Basic questions about economics for second graders.
Flashcards
18 cards
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Practice quiz
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Questions
18
Answers
1
People who make goods can be called _____.
natural resources
human resources
capital resources
2
Which word means "doing something helpful for others?"
consumer
service
goods
opportunity cost
3
When you go to buy a car, you are a _________.
consumer
good
producer
service
4
Materials that can be found in the environment like fresh water or oil are called ___________.
human resources
natural resources
capital resources
services
5
When lots of people want to buy the same thing, that's called ______.
service
demand
good
supply
6
Making, buying, or selling something that people want or need is called ________.
history
environment
economics
geography
7
An example of a natural resource is _________.
wood
teacher
painter
hammer
8
Goods produced and used to make other goods and services like tools are called ___________.
services
human resources
capital resources
natural resources
9
An example of a human resource is a ___________.
wood
farmer
hammer
lawn mower
10
These people provide a service. What would you call them?
goods
producers
people
consumers
11
Another word for the money people use to buy goods and services is ___________.
producer
consumer
currency
12
I have to make a choice of how to spend my money. The thing I do not pick is called the _____.
goods
services
savings
opportunity cost
13
Which word means "an item grown or made that someone needs to buy?"
service
goods
consumer
producer
14
The hair stylist is providing a ______.
service
consumer
goods
producer
15
These people are eating at a restaurant. What are they called?
consumers
supply
producers
goods
16
An example of a capital resource is a __________.
hammer
wood
teacher
farmer
17
When demand goes up, supply must ____.
decrease
increase
stay the same
18
People who make goods or provide services are ____________.
services
goods
producers
consumers