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WorksheetsEconomics Review
Total questions: 14
Worksheet time: 7mins
What kind of economy does the United States have?
command
free
market
supply
What does an eye doctor specialize in ?
feet
eyes
back
ears
Who did Grandpa compete with in Grandpa's Corner Store book?
The New Supermarket
the students at school
His family
The car store
What is an example of a positive incentive?
supply
fine
demand
coupon
When there are many toys on the shelves in the store the supply is
high
low
High demand on a video game could cause the price to go _____
up
down
stay the same
When Walmart lowers their price of a toy compared to Amazon this causes a ______
incentive
specialization
private property
competition
True or False
Division of Labor is dividing up work
True
False
Why do factories use division of labor? Two answers
Products will be made slower
The quality of product will decrease
Products will be made faster
The quality of product will increase
When the copper mines closed in the UP, what did this cause with jobs?
unemployment
employment
What is passed along in the circular flow model?
goods
services
money
all of these answers
When people are not buying typewriters this is an example of _____
high demand
low supply
low demand
high supply
low specialization
private property
Why would McDonald's send you a coupon?
they want to be voted the best
they want more competition
they want you to go to Burger King
they want your business
What is an example of a negative incentive?
coupon
buy one get one free
fine
sale
