Economics 3rd Grade

What is a resource?

• Giving money to the bank

• A country's system of money

• Trading with no money

• Anything used to produce a good or service

Specialization is ________.

• Making only one kind of good or service

• Things you give up when you buy something

• Not having enough of something

What is interdependence?

• A country's system of using money

• People or places depending on one another to produce things they need.

• Giving money to a bank

• Saving money

If you give money to a bank, you are making a...

• good

• withdrawal

• deposit

• trade

What is scarcity?

• Trading without money

• The things that you give up when you buy something else

• Making only one kind of good or service

• Not having enough of something

Check all of the answers that show a need.

• water

• car

• apple

• sweater

What happens when you borrow money from a bank?

• The bank pays you interest

• You pay the bank interest

• You make a deposit

• The bank pays someone else interest

Money makes getting things you need much easier.

• True

• False

If a good is sent INTO the country we live in it is called an

• import

• export

If a good is sent OUT of the country we live in it is called an

• import

• export