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WorksheetsEconomics Review
Total questions: 22
Worksheet time: 17mins
What is a resource?
Giving money to the bank
A country's system of money
Anything use to produce goods
Trading without using money
What is interdependence?
Depending on others to produce things that you need
The thing that you give up when you buy something else
A country's system of using money
To give money to a bank
What does deposit mean?
Trading without using money
A country's system of money
To give money to a bank
Anything use to produce goods
What is barter?
The things that you give up when you buy something else
Not having enough of something
To give money to a bank
Trading without using money
What is scarcity?
Making on kind of good or service
Trading without using money
Not having enough of something
The things that you give up when you buy something else
Which list shows only needs?
nail polish, television, sweater
sweater, water, apple
shoes, shirt, necklace
water, shirt, nail polish
When you go to the store and buy a bag of potato chips, you are a
Producer
Consumer
Natural resource
Human resource
Which is an example of bartering?
Tim gave his cookie to Rita. Rita gave Tim an apple in exchange.
Lisa washed Mrs. Daniel's car. Mrs. Daniel's paid Lisa $5
Becky's mother wrote a check for groceries at the grocery store.
Mary gave Susan a present for her birthday
What is specialization?
Making one kind of good or service
Not having enough of something
Anything use to produce goods
The things that you give up when you buy something else
How does advertising affect the demand for a product?
Advertising makes the demand go up
Advertising makes the demand go down
Advertising doesn't change the demand for a product
In July, a store is running low on sunscreen. What is the supply and demand for sunscreen.
High demand and high supply
High demand and low supply
Low demand and low supply
Low demand and high supply
Which item is not a service?
Haircut
Piano lessons
Car wash
A pack of gum
In November, what will probably happen to the price of Halloween costumes?
The price will go up
The price will go down
The price will stay the same
What happens when you borrow money from a bank?
The bank pays you interest
You pay the bank interest
You make a deposit in the bank
The bank has to pay someone else interest
An egg is what type of resource
Natural resource
Human resource
Capitol resource
Using money makes getting things that you need much easier.
True
False
A baker is what type of resource?
Natural resource
Human resource
Capitol resource
What is an opportunity cost?
Giving money to a bank
The thing you give up when you buy something else
Anything used to produce goods
Depending on others to produce things that you need
The United States _______ bananas from Costa Rica.
imports
exports
The United States _______ oranges to Costa Rica.
imports
exports
Which one of these is the producer?
Jackie: she's eating an apple for lunch
Barbara: she's reading a book
Joe: he earned $10 for washing his dad's car
Mark: he is making and selling lemonade in his front yard
Butter is what type of resource?
Natural resource
Human resource
Capitol resource
