Worksheets2020 Economics
Total questions: 28
Worksheet time: 41mins
The amount of something that is available is....
supply
economics
demand
exchange
The number of people who want or need something is....
supply
demand
When you go to the store and buy a bag of popcorn, you are a ....
producer
consumer
In summer time, a story is running low on sunscreen. What is the supply and demand for sunscreen?
high demand and high supply
high demand and low supply
In March, what will happen to the price of Valentine's Day cards?
The price will go up.
The price will go down.
The price will stay the same.
What is supply?
the amount of an item you have
how many people want your good/service
the money you have left over after you paid your bills
none of these
What is demand?
the amount of an item you have
how many people want your good/service
the money you have left over after you paid your bills
none of these
iPhone X just came out and many people want it. What will happen to the price?
A new bakery comes to town. Now there are more options for a bakery. What will happen to the price?
For the market, Opal is selling brownies. Dyamonde is also selling brownies. What will happen to the price?
Halloween is almost here! The supply of candy is going down. What will happen to the price?
Sam loves science and wants to become a doctor but he is learning how to make clay bricks like his father and grandfather.
Market
Traditional
Mixed
Command
Katia is an accountant in a government run business where she was placed after graduation.
Command
Traditional
Market
Mixed
Mary Ann runs a car dealership selling only government produced cars. At the end of the month Mary Ann must give all of the money she made back to the government.
Traditional
Market
Mixed
Command
Joe owns a shoe store. At the end of the month Joe decides what to do with his profits.
Command
Market
Traditional
Nike and Under Armour sell similar products. This leads to a decrease in price and an increase in quality.
Market
Command
Traditional
Sarah would like to become a doctor when she grows up. Unfortunately, she lives in a country where her job will be decided for her by the government.
Traditional
Market
Mixed
Command
Ted is working towards his dream of becoming a lawyer by working at a law firm as a legal clerk.
Market
Traditional
Command
Who or what answers the basic economic questions in a traditional economy?
Individuals and Businesses
Government
Custom and tradition
Individuals, Businesses, and Government
Who or what answers the basic economic questions in a command economy?
Individuals and Businesses
Government
Custom
Individuals, Businesses, and Government
Who or what answers the basic economic questions in a market economy?
Individuals and Businesses
Government
Custom
Individuals, Businesses, and Government
