Spending, Saving, and Donating Test

Spending, Saving, and Donating Test

3rd Grade

20 Qs

quiz-placeholder

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Spending, Saving, and Donating Test

Spending, Saving, and Donating Test

Assessment

Quiz

Science

3rd Grade

Practice Problem

Easy

Created by

Melanie Green

Used 2+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a small town, there were two bakeries. If one bakery shuts down, what is the most likely effect on the price of baked goods in the town?

A. Prices will rise.

B. Prices will fall.

C. Prices will remain unchanged.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the demand for a product is low, what will the seller most likely do?

Lower the price

Raise the price

Keep the price the same

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which scenario is likely to cause an increase in the price of a product?

There is an abundance of apples in the market.

More people want concert tickets than there are tickets available.

Many companies are producing the same smartphone model.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A new toy was released in stores today. The toys sold out quickly, leaving many customers without one. More units are expected to arrive soon. If the demand continues to exceed supply, what is likely to happen?

The price of the toys could increase

Customers will lose interest in the toy.

The production cost of the toy could rise.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What impact will an increase in demand for lawn mowing services have on the price Sam can charge?

Sam can increase his lawn mowing price.

Sam must decrease his lawn mowing price.

Sam will have to stop mowing lawns.

The price Sam charges will remain unchanged.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which situation BEST illustrates the concept of scarcity?

A drought has led to a shortage of drinking water.

New smartphones are being released every year.

A factory has an excess of unsold products.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement BEST describes what scarcity is?

A. People buy more products than they need.

B. People do not earn enough to meet their needs.

C. People want more resources than there are available.

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