WorksheetsEconomics
Total questions: 21
Worksheet time: 11mins
What is a need?
Something you need to survive
Something you want really bad.
A good is:
Something you buy at the store.
Something you eat.
Something someone does for you.
A service is:
Something someone does you.
A place
Something you buy at a store
Ice cream shops sell
goods
services
needs
wants
Name a good that you need
A producer is
someone who makes goods or offers services
someone who buys goods or service
Saving money means to
spend all of it
trade money for a good or a service
keep money to use later
A consumer is
someone who buys a good or a service
someone who makes a good or a service
the study of the buying, making, and selling of goods and services
good
economics
scarcity
The process of choosing one good or service over another. The item not chosen is the __________.
good
loss
opportunity cost
I go to the doctor for a checkup. The doctor is providing a __________.
good
service
I buy an apple at the supermarket. The apple is a
good
service
opportunity cost
I couldn't buy the mint chocolate chip ice cream because there was none left. This was because it was in high _______.
supply
demand
I had to get a cherry lollipop instead of blue raspberry because that was all that was left. The cherry lollipop was in high ______
supply
demand
Scarcity occurs when there is not enough of something and people must make choices.
True
False
Anyone who buys a good or a service is a _____.
producer
consumer
Anyone who makes or grows a good or a service is ____.
producer
consumer
I go to the store to buy a snack. I narrow my choices to a bag of Doritos or a chocolate chip cookie. I decide to buy the cookie. The Doritos are my _____.
service
opportunity cost
producer
Chefs are?
Capital Resource
Natural Resource
Human Resource
Lemons are?
Capital Resource
Human Resource
Natural Resource
Spoons are?
Human Resource
Capital Resource
Natural Resource
