wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

SS Quarter 3 Assessment Review

Total questions: 28

Worksheet time: 25mins

Name
Class
Date
1.
Farmers in California have had wonderful weather. They have produced the largest crop of watermelons in years. What will happen to the price of watermelons?
a)
The price will go up.
b)
The price will go down.
2.
Cold weather in Florida has damaged this year’s orange crop. Farmers have only half of the usual amount of oranges to sell. What will happen to the price of oranges?
a)
The price will go up.
b)
The price will go down.
3.
Lucas fixes his friend's sink.  He is providing a _____________.
a)
trade
b)
opportunity cost
c)
product
d)
service
4.
Someone who makes a product to sell is a ____________.
a)
human resource
b)
consumer
c)
producer
d)
trader
5.
A farmer is a ___________ because he/she grows food to sell.
a)
producer
b)
consumer
6.
 Giving a haircut
a)
example of scarcity
b)
example of a service
c)
example of a good
d)
example of a consumer
7.
Who buys goods or services?
a)
Producers 
b)
consumers 
8.
Jobs that people do for others?
a)
Resource
b)
Services
c)
Producers 
9.
The amount of a good or service that is available to consumers
a)
Supply
b)
Demand
c)
Saver
d)
Spender
10.
What happens to the price of objects when the demand for them decreases?
a)
The price will go down
b)
The price will go up
c)
The price will stay the same
d)
They will be free
11.
Physical items that you can touch and see are called:
a)
Goods
b)
Needs
c)
Services
d)
Wants
12.
If there is a huge demand for an item and the supply is very low, what will happen to the price?
a)
The price will decrease
b)
The price will increase
c)
The price will stay the same.
d)
They will be free.
13.

A budget it a helpful tool.

a)

True

b)

False

14.

The goal of a budget is _________________.

a)

to spend more than you make

b)

to spend less than you make

15.

A budget helps you save money for the things you really want.

a)

True

b)

False

16.

You mow neighbor’s lawn

a)

Income

b)

Expense

17.

You get candy from a concession stand.

a)

Income

b)

Expense

18.

You run a bake sale

a)

Income

b)

Expense

19.

You get ticket to Six Flags

a)

Income

b)

Expense

20.

You go to the movies

a)

Income

b)

Expense

21.

To give money/items as a gift or a way to help

a)

Donate

b)

Purchase

c)

Labor

22.

Stephanie wants the newest phone. It costs $400. She has $300 so she doesn't have enough. What will she need to do to get to $400?

a)

Spend

b)

Save

c)

Donate

d)

Earn

23.

Brooklyn has a lot of stuffed animals and toys that she doesn't play with. She has decided to offer them to a children's homeless shelter. What is this an example of?

a)

Spend

b)

Save

c)

Earn

d)

Donate

24.

Gabe wants to buy a new hoverboard. So far, he has $80. The hoverboard costs $120. What does he need to do with the $20 birthday gift he received?

a)

Save

b)

Spend

c)

Donate

d)

Earn

25.

To receive money, usually in return for goods and services

a)

Earn

b)

Save

c)

Spend

d)

Donate

26.

To put money aside, rather than spending or donating it

a)

Donate

b)

Spend

c)

Save

d)

Earn

27.

To give money in exchange for goods or services

a)

Earn

b)

Donate

c)

Spend

d)

Save

28.

Adding change to a piggy bank is an example of

a)

Donating

b)

Saving

c)

Spending

d)

Earning