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4th Grade Economics Flashcards | StudBud
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4th Grade Economics
4th Grade Economics
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4th Grade Economics basics skills
Flashcards
22 cards
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Practice quiz
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Questions
22
Answers
1
Click on the answer of someone who is employed.
Retired GM worker
Someone who is looking for a job
Waitress at a Restaurant
Someone who is on disability
2
An example of a positive incentive is...
Losing DoJo points for missing homework
Speeding Ticket
Gold Buc's Buck
Library Fine
3
What is an example of a consumer?
Your 4th grade teacher showing you a Math lesson.
Mom who buys the groceries for her family
The person who fills your gas tank
The person who checks out your groceries.
4
What is an example of a "good"?
Getting a Lawn Service
Buying a new car
Getting your hair cut
Having someone clean your house
5
What type of economic system do we have in the United States?
Friends Economy
Market Economy
Government Economy
Independent Economy
6
When two businesses offer the same service this is an example of ..(example Kroger and Meijer)
Economy
Competition
Producer
Friendship
7
What does division of labor mean?
Breaking a larger job into smaller jobs
One person does all the work
Two people do all the work
Everyone takes breaks and no one works
8
Profit can be described as...
The cost of a new car
Two companies competing against one another for business.
Money or value gained
The price tag on a piece of clothing
9
All of these are examples of Specialization except.
Journeyman
Electrician
Plumber
Michigan
10
An example of an incentive given by a store is...
Kroger selling Milk made in Michigan
10 for $10 Goldfish at Kroger
Kroger selling Michigan cherries
Kroger being open until midnight
11
When someone is unemployed who suffers?
The person who is unemployed
Their Family
All of the these answers are correct!
The Country as a whole
12
All of these are examples of public goods and services EXCEPT..
St. Joan of Arc Private School
St. Clair Shores Pool
Mackinaw Bridge
Blossom Heath Park
13
Mrs. Jenkins's daughter is not working and not looking for work so she is..
Unemployed
Not in the Labor Force
Employed
in school
14
What is the name of a person who currently has a job?
Labor Force
Stay at home Mom
Unemployed
Employed
15
What are the purposes of taxes?
Money the government collects for public goods and servies
Make sure no one person has too much money.
To fund private companies
To make people angry
16
A person who does not have a job is unemployed.
False
True
17
Almost everything is owned by the government in a market economy.
False
True
18
Scarcity can be defined as....
Too much of a good thing
Having too many choices
Not having enough of what the people want
Economics
19
A mom who stays at home during the week but works on the weekends is..
Unemployed
Employed
Not in the Labor Force
Just a Mom
20
An example of a negative incentive is.....
Losing your homework
Losing technology for not cleaning your room
Earning Husky Hall of Famer
Clipping up for helping the teacher
21
What is the example of someone who is NOT in the labor force?
Teacher
Cashier at Kroger
Police Officer
Stay at home Mom
22
A BOGO coupon is a:
Piece of Paper
Negative Incentive
For Fun
Positive Incentive
