Economics 3rd grade

Which one of the following is a natural resource?

• wood

• a police officer

• a chainsaw

• money

Which one is a human resource?

• rocks

• bricks

• Money

• a Teacher

Both natural resources and human resources are used in economics. Which of the following is an example of a human resource?

• water

• money

• workers in a factory

• people that s hop in a bakery

Which is the main way communities are able to build new schools and fix roads?

• taxes

• gifts

• bake sales

• yard sales

What is a tax?

• A bank that stores the money

• Money collected by the government

• The selling of products

• a plan on how to spend money

Taxes help pay for all of the following except

• The fire department

• restaurants

• police station

• parks

If people want really want something, they will probably pay more for it. Which of the following is true based on this statement?

• If the demand is high, the price will go down

• If the demand is high, the price will go up

• If the demand is low the price will not change

• If the demand is low, the price will go up

A bubble gum factory makes 500 packs of gum a day. They sell quickly, and store owners have lists of people wanting to buy more bubble gum. The factory owner decides to hire more workers and make 750 packs of gum a day. This is an example of

• buying and selling

• specialization

• supply and demand

• mechanazation

Which of the following would make the price of an item decrease (go down)?

• The demand of the item is greater than the supply of the item

• The supply of the item is greater than the demand for it.

• The price of the natural resources needed to make the item increases

what is a plan for how to spend and save money?

• a budget

• gitt

• bank

• company