Economy Quiz Pt. 2

What is a sector in the economy?

• A) A new toy

• B) A part of the economy like businesses or the government

• C) A type of food

• D) A school subject

Why might a business use a price incentive?

• A) To celebrate a holiday

• B) To attract more customers by lowering prices

• C) To add more toys to their store

• D) To change their store’s color

What does ‘specialize’ mean in business?

• A) Selling a little bit of everything

• B) Focusing on making one type of product really well

• C) Offering many different services

• D) Changing products every day

What is one thing a bank does?

• A) Sells toys

• B) Helps people save and borrow money

• C) Cooks food

• D) Fixes cars

What might happen if there is scarcity of a popular toy?

• A) The toy gets more popular

• B) The price of the toy might go up

• C) More toys are made

• D) The toy becomes free