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Running a Business in a Community

Total questions: 10

Worksheet time: 19mins

Name
Class
Date
1.

What is a good?

a)

Walking a dog?

b)

Toy

c)

Fireman

d)

Babysitting

2.

What is the definition of a good?

a)

are actions such as haircuts, medical check-ups, mail delivery, car repair, and teaching.

b)

something that is awesome

c)

an object people want that they can touch or hold.

d)

giving a haircut

3.

Who makes or grows goods or offers services?

a)

producers

b)

consumers

c)

demanders

d)

resources

4.

At the market, Mrs. Barney buys apples that have been grown locally. Where do you think the apples were grown?

a)

In a different state

b)

In another country

c)

Under the ground

d)

Near his community

5.

A toy store has a large supply of blocks and wants to sell more of them. How can the store sell more blocks?

a)

Throw out the supply of blocks.

b)

Stop advertising the blocks.

c)

Lower the prices of the blocks.

d)

Raise the prices of the blocks.

6.

Which is good advice for saving and spending money?

a)

Spend all of your allowance as soon as you get it.

b)

Use a budget to plan how much money you can save.

c)

Try to buy things you want before things you need.

d)

Buy things you use only once, then throw them out.

7.

What is one way you can earn money?

a)

Open a lemonade stand

b)

Donate money to charity

c)

Volunteer at the library.

d)

Buy a horse.

8.

What is supply?

a)

The total amount of a good or service one has to offer.

b)

How much people want an item or service

c)

service

d)

goods

9.

What is demand?

a)

The total amount of a good or service one has to offer.

b)

How much people want an item or service

c)

A good

d)

A service

10.

You are at an amusement park when it begins to rain. The demand for umbrellas will?

a)

increase

b)

decrease