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Economics Quiz

Total questions: 12

Worksheet time: 9mins

Name
Class
Date
1.

What is a need?

a)

Things that everyone needs to survive

b)

Things that people need to look cool

2.

Which pictures show an example of a need? (Choose all correct answers)

a)
b)
c)
d)
3.

What is an example of a want?

4 lines
4.

What is a good?

a)

A physical product that can be bought and sold

b)

A task that someone performs

c)

Something that is great

5.

Choose all the pictures that show a service.

a)
b)
c)
d)
6.

Is this person a consumer or a producer?

Someone buys a cookie at a bakery.

a)

consumer

b)

producer

7.

Is this person a consumer or a producer?

A hair stylist that cuts someone's hair.

a)

consumer

b)

producer

8.

What is supply?

a)

How much of a good that people want to BUY

b)

How much of a good that a company can MAKE

9.

What is demand?

a)

How much people want to BUY a product.

b)

How much a company can MAKE of a product.

10.

If more people want an item, the price will probably go ____.

a)

Up

b)

Down

11.

Choose all the pictures that are an example of a natural resource.

a)
b)
c)
d)
12.

Choose all the pictures that show an example of human resources.

a)
b)
c)
d)