WorksheetsEconomics Quiz 2
Total questions: 20
Worksheet time: 10mins
When you pay someone to do something for you, they are providing a _____________________________.
good
service
cost
When you buy something you can touch or hold, you are buying a _________________.
good
service
cost
Someone who provides goods or services to sell is called a ______________.
producer
consumer
teacher
Someone who buys and uses goods or services is called a ______________.
model
consumer
producer
Trading a good or service that someone else wants or needs for a good or service you want or need is called _____________________.
spending
saving
bartering
Choose 3 correct answers:
How is money easier to use than bartering?
Carrying money to spend is easier than carrying a cow to barter
It is the ONLY way to get what you need
you do not have to have the exact item someone else wants to barter, everyone can use money
money has the same value for everyone
TRUE or FALSE:
Because of SCARCITY we must make choices. We cannot have everything we want.
TRUE
FALSE
PRICE is how much something costs.
If the price is LOW ___________________________.
more people can buy it
fewer people can buy it
nobody can buy it
When we take a vote on indoor or outdoor recess, the most votes wins. This is called ______________________.
force
majority rule
sharing
lottery
When someone grabs a toy from someone else, they are getting it by ______________________.
force
authority
sharing
a contest
When there is a basket of crayons on the table and everyone gets to use them, they are ______________________.
forcing
ruling
sharing
lottery
TRUE or FALSE:
You can NOT get goods or services by winning a CONTEST.
TRUE
FALSE
You are first in line for lunch so you get the biggest slice of pizza. This is called ______________________________.
allocation by personal characteristics
allocation by authority
allocation by first-come, first-served
Your dad tells your sister to give you the game controller. This is called ______________________________.
allocation by personal characteristics
allocation by authority
allocation by first-come, first-served
There is a ride at Disney that says "You Must Be This Tall to Ride"
This is called ______________________________.
allocation by personal characteristics
allocation by authority
allocation by first-come, first-served
Mom says I can have chocolate or strawberry ice cream. I choose chocolate, so strawberry is my ____________________
opportunity cost
benefit
Which is an example of bartering?
paying money for candy bar
using a credit card to buy shoes
giving a friend your pretzels for a bag of chips
TRUE or FALSE:
There are many ways to ALLOCATE, or decide who will get goods and services.
TRUE
FALSE
Mom says I can have chocolate or strawberry ice cream. I choose chocolate, so chocolate is my ____________________
opportunity cost
benefit
When we draw a winner from the fin-tastic shark fish bowl. This is called a _____________ .
force
majority rule
sharing
lottery
