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Worksheets

Economics

Total questions: 23

Worksheet time: 12mins

Name
Class
Date
1.

The exchange of goods or services without the use of money is called....

a)

scarcity

b)

productivity

c)

barter

d)

purchase

2.

Materials that come directly from nature are called....

a)

Human Resources

b)

Natural Resources

c)

Capital Resources

3.

A person who buys or uses goods or services is called a

a)

Producer

b)

Human

c)

Consumer

4.

Goods made by people and used to produce other goods and services (The tools needed to do a job)

a)

Natural Resource

b)

Human Resource

c)

Capital Resource

5.

A person who uses resources to make goods or provide services

a)

Consumer

b)

Producer

c)

Human

6.

Not being able to meet all the wants at the same time because resources are limited is called

a)

Scarcity

b)

Barter

c)

Goods

7.

A person who works to produce goods and services

a)

Natural Resource

b)

Capital Resource

c)

Human Resource

8.

Coal, soil, and rocks are

a)

Natural Resources

b)

Capital Resources

c)

Human Resources

9.

A tractor, pitchfork and rake are ________________resources.

a)

Natural Resources

b)

Capital Resources

c)

Human Resources

10.

A teacher, doctor and farmer are examples of a

a)

Natural Resource

b)

Capital Resource

c)

Human Resource

11.

Needs are things

a)

that we would like to have

b)

that we must have to keep living

12.

Wants are

a)

things that we would like to have

b)

things that we must have in order to keep living

13.

food, shelter and clothing are all

a)

Needs

b)

Wants

14.

The choice that is made among alternatives or possibilities is....

a)

scarcity

b)

resource

c)

economic choice

15.

True or False: Scarcity is when you have too much of something

a)

True

b)

False

16.

People who make donuts are

a)

Producers

b)

Consumers

17.

People who buy shoes

a)

Producers

b)

Consumers

18.

People who use electricity to power their house are

a)

Producers

b)

Consumers

19.

The plant or factory where the electricity is made is a

a)

Producer

b)

Consumer

20.

The choice that is made among alternatives or possibilities is....

a)

scarcity

b)

resource

c)

economic choice

21.

The next best choice that is given up when an economic choice is made....

a)

Economic Choice

b)

Producers

c)

Scarcity

d)

Opportunity Cost

22.

What occurs when people focus on the production of selected goods or services (experts) ..

a)

Specialization

b)

Trade

c)

Barter

d)

Scarcity

23.

The buying and selling of goods and services is referred to as...

a)

Specialization

b)

Trade

c)

Economic Choice

d)

Opportunity Choice