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Economics

Total questions: 13

Worksheet time: 26mins

Name
Class
Date
1.

What does a baby sitter provide ?

a)

good

b)

service

2.

What does a farmer provide?

a)

good

b)

service

3.

What does a car salesman provide?

a)

good

b)

service

4.

What does a coach provide?

a)

good

b)

service

5.

If you go to the mall to buy the new Fortnite game what are you?

a)

good

b)

service

c)

consumer

d)

producer

6.

If you made cookies and sell them at school what are you ?

a)

good

b)

service

c)

producer

d)

consumer

7.

What do we call when people want to buy a product?

a)

supply

b)

demand

c)

producer

d)

consumer

8.

What do we call all the products already in the store?

a)

supply

b)

demand

c)

producer

d)

consumer

9.

A new restaurant opens up in town and everyone

wants to try it.There are only fifteen tables available. What

happens to the demand for reservations?

a)

increase

b)

decrease

c)

stay the same

10.

It is winter in the Austin, which means very cold

temperatures and snow.The demand for ice

cream will probably

a)

increase

b)

decrease

c)

stay the same

11.

Target has a large supply of winter coats in March. What will happen to the price of the coats?

a)

increase

b)

decrease

c)

stay the same

12.

Many kids want a hover board for Christmas, but the

supply is running low as Christmas nears. Since many people want one, the price of hover boards will

a)

increase

b)

decrease

c)

stay the same

13.

Tina’s Bakery made too many cookies, so they

want to get rid of some of their cookie supply.

Tina’s Bakery should__________ the price of

cookie to sell them faster.

a)

increase

b)

decrease