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WorksheetsEconomics
Total questions: 30
Worksheet time: 35mins
What is a consumer?
a person who takes things
a person who purchases goods and services for personal use
a person who takes good away
the economic factors affecting the price, demand, and availability of a commodity
What is a producer?
a person who gives goods away
things people would like to have
the exchanged of goods and services without the use of money
a person, company, or country that makes grows, or supplies goods for sale
If the supply of a good is higher than the demand, what happens to the price?
stays the same
price increases
price decreases
Basic things humans need to survive
want
import
need
Extras that make life more enjoyable
need
want
savings
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
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
Which of these examples is a service?
Mr. Farr sells guitars.
Mr. Swenson gives art supplies to consumers.
Coach provides lessons for different sports.
Ms. Miller writes books.
What is profit?
the money you have left over after you paid your bills
how many people want your good/service
the amount of an item you have
none of these
iPhone X just came out and many people want it. What will happen to the price?
For the market, Opal is selling brownies. Dyamonde is also selling brownies. What will happen to the price?
A person who comes up with a new idea for a product, and they actually make it and sell it.
resource
human resources
consumer
entrepreneur
What is a product that people in one country buy from people in another country?
import
export
trade
tariff
What is a product that people in one country sell to people in another country?
import
export
trade
tariff
Pick the producer.
Pick the producer.
Pick the consumer.
Pick a consumer.
Which of the following is a natural resource?
house
construction worker
wood
furniture designer
