WorksheetsEconomics
Total questions: 25
Worksheet time: 42mins
Economy is the study of....
of making goods
of making, buying, and selling goods and services
of only goods and services
a potato flew around my room before you came
Select natural resources
strawberries
trees
hammer
soil
Select capital resources
milk
wheat
lawnmower
bicycle
Select human resources
farmer
car
carpenter
wheat
Income is...
money
apples
the money that someone earns for making a decision on how to spend money
the money that someone earns for doing a job
A need is........
a good or service you need to survive
a good or service that you want
a place where people sell and buy goods
the amount of goods or services available
What is a want?
a good or service you need
a good or service you want
a good you want
a service you want
Supply is.....
the amount of goods or services available
the amount of goods people want to buy
a place where people buy and sell goods
a low price
A consumer is a person who buys goods
true
false
i don't know
sometimes
Budgeting is...
making decisions about how to buy goods
making decisions about how to spend money
money
a lot of potatoes
What is bartering?
the trading of goods without using money
the trading of goods and services without using money
the trading of services without using money
the trading of goods and services using lots of money
Economic choices are...
the choices people make about how to spend their money
the choices your friends make about how to spend your money
money choices
the choices you make about where to put your money
Human resources are...
people who work to make goods
people who work to make goods or services
people who work to make services
people who work
Capital resources are typically found....
outside
in stores
at school
in your fridge
Natural resources are....
resources that are found in nature
resources that are found in stores
wants
needs
What are goods?
things that are made
things that are grown
things that are made and grown
stuff
Examples of goods:
apples
pencils
flowers
dentist
Services are...
jobs that people do to help others
jobs that people do to earn money
BORING!!
like normal jobs
A producer is...
me
a person who makes or grows something
ella
a person who buys a good or service
What is a market?
a place to sleep
a place where people buy and sell goods and services
a place where people eat food
What is demand?
the amount of goods or services people want to buy
the amount of services people want to buy
the amount of goods people want to buy
Examples of wants:
candy
fancy clothes
games
food
Examples of needs:
food
shelter
clothing
oreos
High supply+low demand=
lower prices
higher prices
it depends
Low supply+high demand=
higher prices
lower prices
it depends
