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WorksheetsChoices in a Free Market
Total questions: 14
Worksheet time: 7mins
Name
Class
Date
1.
The total amount of a good or service that is available to buy is called
a)
demand
b)
incentive
c)
profit
d)
supply
2.
A(n) ______________is something that leads a person to make a certain choice.
a)
demand
b)
incentive
c)
profit
d)
supply
3.
The total amount of a good or service that customers will buy at all prices is called
a)
demand
b)
incentive
c)
profit
d)
supply
4.
The amount of money earned by a business after costs are removed is called
a)
demand
b)
incentive
c)
profit
d)
supply
5.
Which of the following people is earning money by providing a service?
a)
Anthony grows fruit to sell
b)
Laura sews stuffed animals
c)
Carl sells lemonade he makes
d)
Marie teaches a third grade class
6.
Which of the following will increase the profit at a lemonade stand?
a)
using cheaper lemons
b)
using more ingredients
c)
selling during cold weather
d)
giving glasses away for free
7.
At Georgia's fruit stand, she sells apples. The __________ of apples is how many she has to sell.
a)
buyer
b)
demand
c)
seller
d)
supply
8.
Oprah and Bill Gates are entrepreneurs because they
a)
watched television all day long
b)
spent all their time on the internet
c)
grew fruits and vegetables to sell
d)
took risks to start their own businesses
9.
Which of the following is the main goal of a charity?
a)
work on television shows
b)
give money to people in need
c)
make billions of dollars in profit
d)
create computer programs to sell
10.
A new toy becomes very popular, and many people want it. How will the price of the toy change?
a)
price will go up
b)
price will go down
11.
A new bakery moves into the neighborhood. Now there are many more cookies that people can buy. How will the price of cookies change>
a)
price will go up
b)
price will go down
12.
Cold weather in Florida kills many trees that grow oranges. How will the price of oranges change?
a)
Price will go up
b)
Price will go down
13.
Julie sells hot chocolate during the winter. But this winter has been very warm. How will the price of hot chocolate change?
a)
Price will go up
b)
Price will go down
14.
One company charges a high price to ship mail quickly. Soon many other companies start shipping mail just as quickly. How will the price of this service change?
a)
Price will go up
b)
Price will go down
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