the amount of product or service available for use

A want means you should

the desire for something you don't absolutely need.

allows government to provide services.

to make many of the same items.

are people, who purchase goods and services.

a wish or desire for goods & services.

make items bought by consumers.

A famous athlete or actor, who suggests products to buy,

provides celebrity endorsement.

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third grade ECONOMICS

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review of vocabulary and basic concepts in economics third grade

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Questions 26

Answers

1
When supply is low, the prices are
competitive.
high.
the same.
low.
2
Supply is
pencils, crayons, erasers & markers
the amount of product or service available for use
air
what you have in the pantry
3
Holidays are opportunities to notice
import & export.
products & resources.
happy consumers
supply & demand.
4
An advertisement that says everybody needs this product is an example of
a broadcast ad.
a tv ad.
a celebrity ad.
a bandwagon ad.
5
A want means you should
the desire for something you don't absolutely need.
parents will say you may not have it.
know it's neccessary for your survival.
immediately buy something.
6
Tax paid on items
goes to charity.
allows government to provide services.
is profit.
goes to hospitals.
7
An economy consists of
products, jobs & resources
manufacturing
all of these
money
8
In exchange for goods and services consumers
shop.
volunteer.
advertise products.
exchange money.
9
The person doing manicures and pedicures
provides a service.
hates his/her work.
likes being busy.
an import.
10
Consumers can believe everything advertisements say.
TRUE
ALWAYS
FALSE
NEVER
11
Manufacturing
to make many of the same items.
means the president places an order.
men know facts.
means a product is designed
12
Examples of items that remain rather consistent with supply/demand are candy canes.
video games.
gasoline, movies & video games.
paper towels & toilet paper.
13
The main purpose of an advertisement is to
tell which product is best.
make money.
provide quality information.
sell products or services.
14
Consumers between the ages of ________________ impact sales more than other groups.
19-39 years
55-90 years
10-24
0 - 3 years
15
When you get a job...you are the ________ and your "boss" is the __________.
employee employer
boss worker
employer employee
worker owner
16
Consumers
eat too much food.
only buy items on sale.
provide services.
are people, who purchase goods and services.
17
An assembly line
makes production easier.
puts one item together at a time.
takes a long time to finish.
always uses sunlight.
18
You can earn interest from a
a bank.
getting a loan.
retail store.
magazine.
19
Demand is
telling people to give you something now.
pestering and nagging and begging for things.
a crying child.
a wish or desire for goods & services.
20
When two similiar businesses are in the same community, they
fight.
give samples.
complain about the other.
are in competition.
21
Producers
make pizzas on Fridays.
make snowballs.
work at stores like Target.
make items bought by consumers.
22
Water, stones and gold are
human resurces.
used to make bronze.
are useful natural resources.
are rare.
23
Only presidents and law makers contribute to the US economy.
TRUE
FALSE
24
Human resources
usually get paid wages.
are used at school.
are people.
are each of those.
25
A famous athlete or actor, who suggests products to buy,
provides celebrity endorsement.
pushes sales.
is phony.
is famous forever.
26
To send product out of the US to another country is called
import
distribution
export
sales

third grade ECONOMICS Flashcards | StudBud