What does interdependence mean?

Producers need consumers to buy their goods/services. Consumers need producers to provide their goods/services.

Producers only need consumers to buy their goods/services.

Consumers only need producers to provide their goods/services.

Which of the following is an example of voluntary exchange?

Georgia trades peaches with Florida for oranges.

Georgia donates peaches to Florida.

Florida donates oranges to Georgia.

Georgoia residents can only travel to Florida for oranges.

Why does the government collect taxes?

to provide services to citizens

money people pay to support government goods and/or services

a service the government provides

Maria wakes up and goes for a run in the local park. Later she buys a cup of coffee at a restaurant nearby. When is Maria using a public good or service?

while she is running at the park

Lawrence drives to his job at a local grocery store. When is Lawrence using a public good or service?

while he is working at the grocery store

Sally has a science test tomorrow. Instead of studying she decides to go swim at the pool. What is the opportunity cost of her decision?

Sally's score on her science test

Samantha has been saving for a new video game, but when she sees a new fidget she buys that with the money she has saved. What is the opportunity cost of her decision?

she will have to save longer for the video game

Which of the following situations best describes an entrepreneur?

Martin started a lemonade stand with his friends.

Stephanie works at Chic-fil-a on the weekends.

Max does chores at home to earn money from his parents.

Steven babysits his brother after school.

Personal Finance & Economics Review

Authored by Amanda Hall

Social Studies

3rd Grade

Used 19+ times

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36 questions

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MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Teachers provide a _______________.

Good

Service

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Toys are a _______________.

Good

Service

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Doctors provide a _______________.

Good

Service

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Food is a _______________.

Good

Service

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Firemen provide a _______________.

Good

Service

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Shoes are a _______________.

Good

Service

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Rosa is going shopping for new school clothes. Is Rosa a producer or consumer?

producer

consumer

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Personal Finance & Economics Review

Teachers provide a _______________.

Toys are a _______________.

Doctors provide a _______________.

Food is a _______________.

Firemen provide a _______________.

Shoes are a _______________.

Rosa is going shopping for new school clothes. Is Rosa a producer or consumer?

Michael is going to the dentist. Is Michael a producer or consumer?

Maria tutors students after school. Is Maria a producer or consumer?

Jamie has a small family farm and sells vegetables at the local market. Is Jamie a producer or consumer?

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