WorksheetsEconomics Study quiz
Total questions: 22
Worksheet time: 11mins
Receiving a new toy from your mom is a
good
service
Buying a pair of new shoes is a
good
service
Hiring a DJ for your birthday is a
good
service
A mechanic fixing your car is a
good
service
Paying to get your car washed is a
good
service
A new backpack for school is a
good
service
The system in which goods and services re bought and sold.
economy
goods
services
scarcity
When people want more things than they can actually have.
economy
goods
services
scarcity
Tasks you pay someone to do for you.
economy
goods
services
scarcity
Items that can be bought, sold, and traded, such as food and computers.
economy
goods
services
scarcity
A place where buyers and sellers come together.
market
supply
demand
profit
The amount of money earned by a business after costs are removed.
market
supply
demand
profit
The total amount of a good or service available to buy.
market
supply
demand
profit
The total amount of a good or service that customers will buy at all prices.
market
supply
demand
profit
A useful item that comes from nature, such as wood from trees.
Natural Resource
Entrepreneur
Human Resource
Capital Resource
Someone who helps start and manage a new business.
Natural Resource
Entrepreneur
Human Resource
Capital Resource
Workers in a business.
Natural Resource
Entrepreneur
Human Resource
Capital Resource
Another book store opens at the mall. Now there are 3 different book stores in the mall.
The prices will go up.
The prices will go down.
A new play station has just came out, there were only 100 made for the whole county.
The prices will go up.
The prices will go down.
A free market economy will...
provide a service.
only buy one fruit.
let you choose to buy what you want.
Buy everything at a market.
What will increase a bakery's profit?
Using cheaper materials
Using more ingrediants.
Selling chocolate only once a year.
giving away free samples all the time.
What is a benefit of saving money in a bank?
You can buy a new toy right away.
You can earn interest when you put money in the bank.
You can pay the bank to keep your money.
You can spend your money right away.
