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Worksheets4th Grade Economics
Total questions: 10
Worksheet time: 6mins
SERVICES are...
a business that holds and loans money.
things you do for people.
things that people use.
laws.
GOODS are...
a business that holds and loans money.
things you do for people.
things that people use.
laws.
In Economics, who are the producers?
People who USE goods and services.
People who PROVIDE goods and services.
People who MAKE LAWS for economics.
People who ENFORCE restrictions on goods and services.
In Economics, who are the consumers?
People who USE goods and services.
People who PROVIDE goods and services.
People who MAKE LAWS for economics.
People who ENFORCE restrictions on goods and services.
A producer needs 3 resources:
Capital, State, & Federal Resources
Glass, Metal, & Plastic Resources
Natural, Human, & Capital Resources
Strength, Power, & Water Resources
What is the goal of a producer or business?
To have competition.
To break even (spend as much as they make).
To deal with stress.
To make a profit (make more money than they spent).
What is the goal of a consumer?
To make money (get a job) to buy the things they need and save.
To stay healthy (eat right, workout, drink water.)
To stay organized at home, school, and work.
To prepare the laws for businesses to run correctly.
Where do businesses get their money to start their business?
(a)
If you have a high supply of fidgets and a low demand for fidgets...
the fidgets prices will go down.
the fidget prices will go up.
the fidget prices will stay the same.
If you have a low supply of fidgets and a high demand for fidgets...
the fidgets prices will go down.
the fidget prices will go up.
the fidget prices will stay the same.
