WorksheetsECONOMICS
Total questions: 21
Worksheet time: 16mins
Which of these examples is a service?
Mr. Farr sells guitars.
Mr. Swenson gives art supplies to consumers.
Coach provides lessons for different sports.
Ms. Miller writes books.
Jenny has hundreds of stuffed animals to sell. The stuffed animals are considered the _________.
supply
demand
buyer
seller
What is profit?
the money you have left over after you paid your bills
how many people want your good/service
the amount of an item you have
none of these
Which of the following will increase your profit for selling hot chocolate?
Use expensive materials
Lower the price
Give each buyer more hot chocolate
Use cheaper materials
Which of the following is the factors of prodution
Scarcity
Choice
Opportunity cost
Natural resources
What is given up when a choice is made
Scarcity
choice
opportunity cost
resources
Selecting an item or action
Scarcity
choice
opportunity cost
resources
Amount of money exchanged for a good or service
price
incentive
consumption
production
What is the total amount of a good or service available for purchase?
Producer
Consumer
Demand
Supply
What do you call someone who makes or provides a good or service for purchase?
Producer
Consumer
Demand
Supply
The combining of human, natural, capital, and entrepreneurship resources to make goods or provide services
consumption
production
distribution
resources
Oil, natural gas, and coal
human resources
natural resources
entrepreneurship
capital resources
Construction worker, doctor, nurse, and teacher
capital resources
entrepreneurship
human resources
natural resources
Economics seeks the answer to the basic question of how to deal with ______.
money
hunger
demand
scarcity
