WorksheetsEconomics Review
Total questions: 20
Worksheet time: 11mins
Which of these is a need?
clean air
new jeans
cool sneakers
your favorite candy
Which of these is a want?
food
water
shelter
smartphone
Which of these is an example of a good?
a laptop
an apple
a backpack
all of the above
Which of these is not an example of a service?
babysitting
mowing the lawn
a vase of flowers
fixing your computer
What do people need to live?
Air, food, water, and shelter
Toys, candy, books, and bikes
Ponds, deserts, forests, and mountains
Librarians, teachers, principals, and students
Is this a need or want?
need
want
Is this a need or want?
need
want
Is this a need or want?
need
want
TRUE or FALSE: Because we have unlimited wants and scarcity, we have to make difficult choices.
(a)
Scarcity means:
Too much of something you wanted
The exact amount of something you wanted
Not enough of something you wanted
What is an economic want?
Things people need in order to survive.
Things people would like to have.
Things people don't want anymore.
If 5 people want an ice-cream, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
If 8 people want a stuffed animal, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
If the store has 100 packs of toilet paper and 200 people want to buy it, is it a shortage or surplus?
shortage
surplus
A shortage is...
a temporary outage of stuff.
a name of a cow.
the idea that all things have a beginning and an end.
a synonym of scarcity.
What is a service?
someone you work with
things we can hold and use
a job someone does for others
none of the above
What is a good?
something you need to have
someone who helps others
something you make or use
