Economics Quiz

The management of money and resources is called __________. Circle the correct answer.

• economics

• goods

• checks

• hammers

Things people make and sell are called __________. Some examples are toys, cars, and radios. Circle the correct answer.

• services

• goods

• producers

• trading

What is a service a teacher might provide? Circle the correct answer.

• He builds houses for people to live in.

• She sews quilts to keep people warm.

• He mines for gold.

• She teaches children to read.

We are all __________ because we use goods and services. Circle the correct answer.

• want

• consumers

• scarcity

• economic choices

What is a good that a farmer might produce? Circle the correct answer.

• checks

• cash

• corn

• jewelry

Alex needs 100 gallons of milk to make ice cream but the farmer only has 75. When there is not enough of something, we call that __________. Circle the correct answer.

• scarcity

• economics

• bartering

• goods

Materials found in nature that are useful to people are called __________.

• natural resources
• human resources

• capital resources

• scarcity

Human resources are __________ working to produce goods and services.

• people
• tools

• nature

• animals

What capital resource would a lumberjack use?

• chainsaw

• scissors

• hairdryer

• handcuffs

An __________ is to choose between one thing and other things because we cannot have everything we want.

• scarcity

• barter

• economic choice

• human resource