Economics - Third Grade

When a choice is made and something has to be given up, it is called ____________.

• capital resources
• scarcity
• price
• opportunity cost

A _________ makes a product (good) or provides a service for consumers.

• consumer
• producer
• natural resource
• price

A resource that comes from nature such as water and trees is called a ___________ _________.  

• natural resource
• intermediary resource
• capital resource
• human resource

This picture is a ____ resource.

• Natural
• Human
• Capital

This picture is a ____ resource.

• Natural
• Human
• Capital

This picture is a ____ resource.

• Capital
• Human
• Natural

This picture is a ____ resource.

• Capital
• Human
• Natural

Trading without using money is called? 

• House
• Bartering
• handoff 

There are enough resources available in the world to meet everyone’s wants and needs. 

• False
• True

What is it called when a company focuses on making only one product?

• trade
• singular
• resource
• specialization