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Third Grade Economics 2

Authored by Latoya Sims

Social Studies

3rd Grade

Used 1+ times

Third Grade Economics 2
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a budget?

A list of things to buy

An estimate of income and expenses for a set period of time

A type of bank account

A way to earn money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which entrepreneur founded Amazon?

Henry Ford

Walt Disney

Jeff Bezos

Sam Walton

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens when the supply of an item decreases but demand stays the same?

The price goes down

Nothing changes

The price increases

More items are made

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of scarcity?

Having too much of something

The process of making goods

A type of business

A shortage or lack of something

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is labor?

Work done for money

Things that are sold

A type of credit

Money earned from sales

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who was the first person to mass produce cars using an assembly line?

Jeff Bezos

Henry Ford

Sam Walton

Walt Disney

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is free enterprise?

A. A government-controlled system

B. Free goods and services

C. An economic system with little government control

D. A type of budget

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