Economics Review for 3rd Grade

Something people do for other people for money

What is it called when there is not enough of something to meet people's needs and wants?

What must a budget contain?

If you make lemonade for your lemonade stand, you are a ___________________.

Is a television a need or a want?

What is it called when there is a large supply of a good or service?

Does a baker provide you with a good or a service?

A person that buys a good or service from a person or a business

Are blueberries scarce or abundant in the summer? What happens to the price?

Not many new shoes were ordered. Will the demand for the shoes increase or decrease? Price?

The amount of good and services that people want and can buy is called _________.

Is a pair of pants for school a need or a want?

When you are buying groceries at HEB, you are a ___________.

Is an ipad a need or a want?

Is a barber an example of someone providing you with a good or a service?

The amount or quantity of goods or services that people can sell or have available is ____.

Someone who sells a good or service is ________.

Are watermelons scarce or abundant in the winter? What happens to the price?

Something that you can buy that you can hold or touch

After Halloween there is a lot of candy leftover. If demand is low, how does this affect price?