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Introduction to Economics

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

It is something essential to staying alive.

a)

wants

b)

needs

c)

services

2.

It is something nice to have, but it is not necessary to stay alive.

a)

wants

b)

needs

c)

services

3.

When you buy a good or service, you are a _________________.

a)

seller

b)

consumer

c)

producer

4.

A _______________ is a person that makes or grows items or provides a service to others. They have something to sell.

a)

buyer

b)

consumer

c)

producer

5.

Earned money is called _____________.

a)

tax

b)

currency

c)

income

6.

A plush toy is a ___________.

a)

good

b)

service

c)

income

7.

A car wash is a ___________.

a)

good

b)

service

c)

income

8.

This is a way a country uses its money, resources, goods and services.

a)

opportunity costs

b)

economy

c)

savings

9.

This resource is identified as people who make goods or provide services.

a)

human resources

b)

capital resources

c)

natural resources

10.

This resource is identified as tools or machines needed to make products or provide services.

a)

human resources

b)

capital resources

c)

natural resources

11.

This resource is identified as something you can find on Earth and is not made by people.

a)

human resources

b)

capital resources

c)

natural resources

12.

Plants, fruits, and minerals are called

a)

human resources.

b)

capital resources.

c)

natural resources.

13.

Milk tea machines are

a)

human resources.

b)

capital resources.

c)

natural resources.

14.

Accountants, lawyers, and graphic designers are

a)

human resources.

b)

capital resources.

c)

natural resources.

15.

We need to _________ money in case of an emergency.

a)

spend

b)

save