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Economics- 3rd Grade Flashcards | StudBud
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Economics- 3rd Grade
Economics- 3rd Grade
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Answers
1
What is
Economics
?
The name of a school
The study of how people use money, goods, and services
People who give money or trade items for things
The amount of something that is available
2
A
buyer
is a person who gives money or trades items for things he or she wants or needs?
False
True
3
What is
demand
?
trading something
the number of people who want or need something
exchanging money
trying to get a toy
4
What does "
exchange
" mean?
amount of something to sell
to trade or give up one item for another
have extra money
to demand a toy
5
A
seller
is a person who takes money or other items in exchange for things he/she wants or needs.
False
True
6
Supply
is the amount of something that is available?
False
True
7
Scarcity
is when something is difficult to get or find. (Think of the word "scarce".)
True
False
8
Currency
is a country's system of ...
seller
supply
money
buyer
9
To
trade
an item means...
you keep the item and you also get another item
you give one item in return for something else
you give an item to your friend
you have to throw it out
10
Supply
is the amount of something that is available?
False
True
