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Economics

Total questions: 27

Worksheet time: 54mins

Name
Class
Date
1.

Products that people want, need, & buy are called______.

a)

consumers

b)

goods

c)

needs

d)

services

2.

SOMEONE that buys or uses goods & services is called a____.

a)

consumer

b)

producer

c)

want

d)

need

3.

Things that are NECESSARY to survive are called_____.

a)

wants

b)

goods

c)

producers

d)

needs

4.

SOMEONE who makes or grows things is called a ______.

a)

want

b)

consumer

c)

producer

d)

good

5.

Activities that provide people what they want or need are called______.

a)

services

b)

goods

c)

wants

d)

needs

6.

Things that make life more enjoyable are called_____.

a)

producers

b)

needs

c)

consumers

d)

wants

7.

A computer is a WANT.

a)

true

b)

false

8.

Food is a NEED.

a)

true

b)

false

9.

Shelter is a WANT.

a)

true

b)

false

10.

TV is a NEED.

a)

true

b)

false

11.

Firefighters provide a SERVICE.

a)

false

b)

true

12.

Teachers provide a SERVICE.

a)

true

b)

false

13.

A skateboard is a GOOD.

a)

true

b)

false

14.

Shoes provide a SERVICE.

a)

true

b)

false

15.

If Grandma knits a quilt she is a PRODUCER.

a)

true

b)

false

16.

If kids purchase popcorn at a movie theater they are CONSUMERS.

a)

true

b)

false

17.

When you purchase a shirt from Target, you are a PRODUCER.

a)

false

b)

true

18.

A farmer is a PRODUCER.

a)

true

b)

false

19.

If a boy makes a birthday card for his mom, he is a CONSUMER.

a)

true

b)

false

20.

Last year's popular shoes are in ______.

a)

LOW demand

b)

high demand

21.

Mittens (gloves) in May are in ____.

a)

HIGH demand

b)

LOW demand

22.

Sunscreen in July (summer) is in _______.

a)

HIGH demand

b)

LOW demand

23.

Pumpkins in October are in _____.

a)

LOW demand

b)

HIGH demand

24.

Water balloons in January (winter) are in ____.

a)

LOW demand

b)

HIGH demand

25.

Wrapping paper at Christmas time (December) is in _____.

a)

LOW demand

b)

HIGH demand

26.

Valentine's cards in February are in ______.

a)

LOW demand

b)

HIGH demand

27.

If the demand is HIGH, then the SUPPLY will be LOW and the price will INCREASE.

a)

true

b)

false