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Economics Review

Total questions: 28

Worksheet time: 15mins

Name
Class
Date
1.
Which of these is a good?
a)
Librarian
b)
Teacher
c)
Computer
d)
Mechanic
2.
Which of these provides a service?
a)
Pumpkins
b)
Mailman
c)
Turtles
d)
Cars
3.
The people who grow or create goods are called...
a)
producers
b)
consumers
c)
banker
d)
traders
4.
The people who buy goods and services are called...
a)
producers
b)
consumers
c)
banker
d)
traders
5.
Which of the following is a need?
a)
Crayons
b)
Video Games
c)
Basketballs
d)
Houses
6.
If video games are not a need, what are they?
a)
a wish
b)
a dream
c)
a want
d)
a necessity
7.
All people have the same wants and needs.
a)
True
b)
False
8.
How do most people obtain goods or services today in America?
a)
Money
b)
Trading
c)
Bartering
9.
I want to buy new shoes for $20. I only have $5. How can buy the shoes?
a)
Pay $5
b)
Save my money
c)
Trade my old shoes for the new shoes
10.

Which is a want?

a)

Food

b)

Water

c)

Clothes

d)

Video Games

11.

Which is a need?

a)

Crayons

b)

Games

c)

Water

d)

iPhone

12.

What is a NOT a need?

a)

Food

b)

Water

c)

Phone

d)

Shelter

13.

________________ are people who use services or buy goods.

a)

Producers

b)

Resources

c)

Pretty

d)

Consumers

14.
Economics is...
a)
studying goods, services, and how people can get them.
b)
studying trees, bushes, and other plants.
c)
studying animals and wildlife.
d)
studying food, and how food is made.
15.
Which of the following is an example of a need?
a)
Very expensive boots
b)
Video games
c)
Water
d)
Dinner from your favorite restaurant
16.
Which of the following is a want?
a)
A new bicycle
b)
A warm jacket
c)
Breakfast
d)
A place to live
17.
Which of the following is an example of a service?
a)
Mowing a neighbor's lawn
b)
Sneakers
c)
Macaroni and cheese
d)
Teddy Bear
18.
Which of the following is NOT an example of a service?
a)
Shopping for Christmas gifts
b)
Walking your neighbor's dog for $5 per hour
c)
Cleaning the house for an allowance
d)
Washing cars to earn money to go on a trip
19.

Things that are necessary to live (example: food, water, shelter)

a)

goods

b)

wants

c)

needs

d)

job

20.

Someone that buys a good or a service

a)

producer

b)

consumer

c)

job

d)

bank

21.

Things you can touch and buy (products, merchandise)

a)

supply

b)

needs

c)

goods

d)

income

22.

Someone or a company that makes goods

a)

producer

b)

bank

c)

consumer

d)

job

23.

Things that you wish for but do not need

a)

goods

b)

services

c)

scarcity

d)

wants

24.

Which of these is an example of a good?

a)

babysitting

b)

an iPad

25.

What do you call the things that other people do for you, that you pay for?

a)

goods

b)

services

c)

entertainment

26.

Something that you desire, but don't have to have to survive

a)

need

b)

want

c)

good

d)

service

27.

What people use to obtain a good or service

a)

need

b)

save

c)

bank

d)

money

28.

A place to keep money safe, a place to borrow money from

a)

bank

b)

supply

c)

demand

d)

job

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