Economics Quiz

Max put $100 in his savings account, but now he has $101. This is because of …

Items that can be bought, sold, and traded are called …..

• economy

• goods

• market

• scarcity

_________________ is using money in the hopes of making more money in the future.

• Saving

• Spending

• Investing

• Collecting

_________________ are tasks you pay someone to do for you.

• Economy

• Services

• Market

• Scarcity

Why do countries trade with each other? 

• to stay friendly

• to get things they want and need

• to pay for transportation

• to make other countries rich

Wood is a _________________ that can be found underground.

• natural resource

• manufactured good

A car is a type of …

• natural resource

• manufactured good

The   _________________ is the system in which goods and services are bought and sold.

• economy

• goods

• market

• scarcity

This man is a part of the free market economy because he ___________________________?

• is providing a service.

• can only purchase fruit.

• is choosing what to buy.

Miss Spaulding sells lemonade during the summer. But this summer has been very cold. How will the price of lemonade change?

• The price will go up.

• The price will go down.