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2nd & 1st Unit 1 School Store

Total questions: 19

Worksheet time: 10mins

Name
Class
Date
1.

Things that can be bought and sold are called

a)

goods

b)

services

c)

saving

d)

needs

e)

wants

2.

Things that you need to live like clothes, food, and shelter are called

a)

goods

b)

services

c)

saving

d)

needs

e)

wants

3.

Things you'd like to have, but do not need are called

a)

goods

b)

services

c)

saving

d)

needs

e)

wants

4.

Work that is done for others for money is called a

a)

goods

b)

service

c)

saving

d)

needs

e)

wants

5.

To put aside money to use later is called

a)

goods

b)

service

c)

saving

d)

needs

e)

wants

6.

How much of a product that we want is called the

a)

producer

b)

consumer

c)

supply

d)

demand

e)

scarcity

7.

A person who buys and uses goods and services is a

a)

producer

b)

consumer

c)

supply

d)

demand

e)

scarcity

8.

The amount of something that you have is called

a)

producer

b)

consumer

c)

supply

d)

demand

e)

scarcity

9.

When there is a small supply of something, it is called

a)

producer

b)

consumer

c)

supply

d)

demand

e)

scarcity

10.

A person who makes, grows, or sells goods is a

a)

producer

b)

consumer

c)

supply

d)

demand

e)

scarcity

11.

To exchange one thing for another is called a

a)

bank

b)

trade

c)

sharing

d)

price

e)

barter

12.

A place that looks after our money is a

a)

bank

b)

trade

c)

sharing

d)

price

e)

barter

13.

THe amount of money you pay for something is called

a)

bank

b)

trade

c)

sharing

d)

price

e)

barter

14.

Dividing something into equal parts is known as

a)

bank

b)

trade

c)

sharing

d)

price

e)

barter

15.

When goods and services are exchanged, that system is called the _________ system.

a)

bank

b)

trade

c)

sharing

d)

price

e)

barter

16.

A producer is someone who

a)

buys a product or service

b)

sells a service or makes and grows a good to sell

17.

A consumer is someone who

a)

buys a product or service

b)

sells a service or makes and grows a good to sell

18.

Which occupation (job) below provides a good?

a)

police officer

b)

nurse

c)

baker

d)

electrician

19.

Which occupation (job) below provides a service?

a)

fire fighter

b)

baker

c)

pet shop owner

d)

grocer at the store