WorksheetsEconomics
Total questions: 78
Worksheet time: 48mins
What does a baby sitter provide ?
good
service
What does a farmer provide?
good
service
What does a coach provide?
good
service
What does a car salesman provide?
good
service
If you go to the mall to buy the new Fortnite game what are you?
good
service
consumer
producer
If you made cookies and sell them at school what are you ?
good
service
producer
consumer
What do we call when people want to buy a product?
supply
demand
producer
consumer
What do we call all the products already in the store?
supply
demand
producer
consumer
A new restaurant opens up in town and everyone
wants to try it.There are only fifteen tables available. What
happens to the demand for reservations?
increase
decrease
stay the same
It is winter in the Austin, which means very cold
temperatures and snow.The demand for ice
cream will probably
increase
decrease
stay the same
Target has a large supply of winter coats in March. What will happen to the price of the coats?
increase
decrease
stay the same
Many kids want a hover board for Christmas, but the
supply is running low as Christmas nears. Since many people want one, the price of hover boards will
increase
decrease
stay the same
Tina’s Bakery made too many cookies, so they
want to get rid of some of their cookie supply.
Tina’s Bakery should__________ the price of
cookie to sell them faster.
increase
decrease
A product that is made for people to buy and use
a good
a service
Which is an example of a good?
mowing the lawn
shoes
teaching
Which of these is an example of a service?
Pencil
Soccer ball
Car
Collecting Trash
A skateboard is a good
True
False
Rowan gave Wyatt a movie in exchange for a football. This is an example of ________.
goods
buying
bartering
money
Why do countries trade with each other?
to make new friends
to show off what they have
to get goods they want or need, but do not produce or grow
_____ are things you buy or trade.
books
goods
economics
When you pay $40 for a new toy, are you bartering?
Yes
No
_____ is another word for trading.
bartering
good
service
charities
When Colton trades his Goldfish for Emily's Cheez-its, they are bartering.
True
False
things purchased by consumers
goods
consumer
producer
supply
A person who provides a good or service
producer
need
want
consumer
Basic things humans need to survive
need
want
import
demand
Extras that make life more enjoyable
want
need
producer
savings
how much of a good or service consumers want
demand
spending
producer
scarcity
The amount available
supply
demand
import
natural resource
money paid to the government through income, sales, and purchase of property
taxes
goods
scarcity
human resource
goods naturally found on the earth
natural resources
supply
demand
services
services provided by people
human resource
import
scarcity
consumer
a good made in another country and brought into the United States
import
scarcity
supply
spending
A good made in the United States and sent to other countries
export
consumer
savings
taxes
not having enough
scarcity
supply
human resouce
taxes
What is opportunity cost?
the value of the next best option that is not selected when a choice is made.
there is not enough of it.
things people make to earn money.
actions people do to earn money.
Andrea has planned a trip to the beach for her family on Labor Day. Her daughter has been invited to the mountains by a friend. Her daughter decides to go to the beach. What is her opportunity cost?
a trip to the beach
a trip to the mountains
Lydia brought a salad for lunch today. Michelle is ordering pizza and asks Lydia is she would like to order. Lydia decides to eat her salad, what is her opportunity cost?
salad
pizza
A farmer decides to plant corn on all of her land. Which of the answers below is her opportunity cost ?
the ability to plant wheat
the ability to go to college
the ability of her workers
the stability of the economy
Which of the lists includes only NEEDS?
Cell phone, Xbox, Headphones
Water, Cell Phone, Shelter
a House, Water, Food
Food, Books, Computers
What is an IMPORT?
bringing in goods from another country
sending goods to another country
buying new goods
creating new goods
What is an EXPORT?
bringing in goods from another country
sending goods to another country
buying new goods
producing new goods
What is Specialization?
producing ONE kind of good or providing ONE kind of service
a system of trade
the value of the next best option (what you give up)
having unlimited wants and needs with limited resources
Which list has HUMAN resources for Domino's Pizza Delivery?
Chef, Delivery Boy, Cashier
Pizza Cutter, Cheese, Janitor
Delivery Car, Land, Tomatoes
Pizza Sauce, Delivery Boy, Manager
Which list has CAPITAL resources for Domino's pizza delivery?
Tomatoes, Cheese, Wheat
Pop Machine, Water, Meats
Chef, Pizza Cutter, Pop Machine
Ovens, Delivery Car, Building
Which list has NATURAL resources for Domino's pizza delivery?
Land, Water, Tomatoes
Ovens, Buildings, Manager
Pop Machine, Delivery Boy
Manager, Delivery Car, Consumers
doctors
lawyers
barbers
electricians
Wi-Fi
food
cars
clothes
cellphone
pencils
The newest video has come out and each store only gets a few of them in stock.
High demand and low supply
Low demand and high supply
Which of these is a want?
food
water
shelter
smartphone
Need or Want
Need
Want
water
want
need
Check everything that is a NEED.
Which is a want?
A place to live (shelter)
Oxygen
Car
Food
A want is something we would like to have but could easily live without it.
True
False
Which is a need?
lemonade
Coffee
Water
Gatorade
Are headphones a fundamental need or a want?
Need
Want
Which is a need?
iPhone
Medication
Backpack
Sunglasses
