3rd Grade Economics

Which of the following are examples of public services? Mark ALL that apply.

• Schools

• Fire Protection

• Fed Ex

• Walmart

• Post Office

A truck loaded with products drives from a factory to Walmart. What kind of resource is the truck?

• Natural Resource

• Capital Resource

• Human Resource

• Commercial Resource

Which of the following are natural resources? Mark ALL that apply.

• Trees

• Farmer

• Hammer

• Fruit

• Water

What is an example of a human resource?

• Pencil

• Tree

• Teacher

• House

Taxes are __________________________________.

• Against the law

• A way for cities to build new building and provide services

• Paid for by only rich people

• Only used in large cities.

How does the government pay for building projects?

• The president pays for it.

• The city council asks businesses to donate money.

• Taxes are collected

• The mayor pays for it.

What is a good?

• An object you buy.

• Something that someone does for you.

What is a service?

• An object you buy.

• Something that someone does for you.

What happens when the supply decreases?

• The price increases

• The price decreases

• The price doesn't change.

When someone cuts my hair, I am paying for a _________.

• Good

• Service