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WorksheetsEconomics Practice
Total questions: 38
Worksheet time: 19mins
To give money to a bank
Opportunity cost
Resource
Barter
Deposit
Trading without using money
Barter
Resource
Interdependence
Currency
A country's system of money
Scarcity
Deposit
Resource
Currency
Making one kind of good or service
Specialization
Opportunity cost
Resource
Currency
Not having enough of something
Scarcity
Resource
Barter
Interdependence
Anything used to produce goods
Resource
Opportunity cost
Currency
Deposit
Depending on others to produce things you need
Opportunity cost
Resource
Interdependence
Barter
The thing you give up when you buy something else
Barter
Resource
Currency
Opportunity cost
Which list shows ONLY needs?
Nail polish, TV, sweater
Sweater, water, apple
Shoes, shirt, necklace
Water, shirt, nail polish
When you go to the store and buy a bag of 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 paid Lisa $5.
Becky's mother wrote a check for groceries at the grocery store.
Mary gave Susan a present for her birthday
Which item is not a service?
Haircut
Piano lessons
Car wash
A pack of gum
In July, a store is running low on sunscreen. What is the supply and demand for sunscreen?
High demand, high supply for sunscreen
High demand, low supply
Low demand, low supply
Low demand, high supply
In November, what will probably happen to the price of Halloween costumes?
Price goes up
Price goes down
The price will stay the same
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
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.
Tea leaves do not make a good form of currency because tea leaves are not
Portable
Divisible
Durable
Giant rocks do not make a good form of money because large rocks are not
Portable
Divisible
Durable
What is a loonie?
Kind of money used in ancient China
Kind of paper Mexican money is printed on
Nickname of 11-sided coin from Canada
Person who does not want to barter with another person
True or false: The US in the only country in the world that has money called dollars
True
False
True or false: Canadian money is printed on plastic paper called polymer
True
False
All of the countries in the Caribbean use the same kind of currency
True
False
Canadian, Mexican, and East Caribbean money all have pictures of Queen Elizabeth
True
False
True or false: Mexican bills are different lengths to make them easy to tell apart
True
False
Using money makes getting the things you need much easier
True
False
N: Natural Resource
H: Human Resource
C: Capital Resource
What are eggs?
N
H
C
N: Natural Resource
H: Human Resource
C: Capital Resource
What is an oven?
N
H
C
N: Natural Resource
H: Human Resource
C: Capital Resource
What is a spoon?
N
H
C
N: Natural Resource
H: Human Resource
C: Capital Resource
What is a baker?
N
H
C
N: Natural Resource
H: Human Resource
C: Capital Resource
What is butter?
N
H
C
N: Natural Resource
H: Human Resource
C: Capital Resource
What is a mixer?
N
H
C
N: Natural Resource
H: Human Resource
C: Capital Resource
What is a chef?
N
H
C
P: Acting as a producer
C: Acting as a consumer
Mark sets up a lemonade stand in his yard. Is Mark a P or C?
P
C
P: Producer
C: Consumer
Teresa buys a candy bar at the store. Teresa is acting like a...
P
C
P: Producer
C: Consumer
Logan is baking a cake for a friends' birthday.
P
C
P: Producer
C: Consumer
Jackie is eating an apple for lunch. She is a...
P
C
P: Producer
C: Consumer
Barbara is reading a book. She is acting as a...
P
C
P: Producer
C: Consumer
Joe earned $10 for washing his dad's car.
P
C
