WorksheetsEconomics and Resources Quiz
Total questions: 22
Worksheet time: 11mins
Which is a natural resource?
A teacher
A tree
A computer
A factory
Human resources are best described as—
Tools and machines
People who work
Trees, water, and soil
Money people save
A hammer, computer, or oven used to make a product is an example of—
Natural resource
Human resource
Capital resource
Money resource
An entrepreneur is someone who—
Sleeps at work
Combines resources and takes risks to make a profit
Only uses natural resources
Works for free
Which example shows entrepreneurship?
A cook working in a restaurant
A student reading a book
A person starting a new bakery using ingredients, workers, and ovens
A machine making cookies automatically
Which is a service that the government provides in a community?
Candy stores
Fire protection
Toy factories
Video games
How does the government pay for services like schools and roads?
By selling toys
By asking for donations
By collecting taxes
By having a yard sale
Which of these is a government good or service?
Restaurants
Parks and public libraries
Movie theaters
Gas stations
Interdependence means—
Countries never talk to each other
People only work alone
Consumers and producers depend on each other
Stores close early
A consumer is someone who—
Makes goods
Grows all their own food
Buys or uses goods and services
Delivers mail
A producer is someone who—
Uses goods
Makes or sells goods and services
Buys toys
Reads books
Why do people and countries trade goods?
To get items they cannot make themselves
To make life harder
To waste money
Because they don't like their own goods
Voluntary exchange means—
People trade only if both sides agree
People are forced to trade
Only governments can trade
Children must trade toys at school
When the price of a good is low, consumers usually—
Buy more
Buy less
Stop shopping
Only save money
When the price of a good is high, consumers usually—
Buy more
Buy less
Buy two of everything
Ask for no rules
Which example is a good made locally?
A peach grown on a Georgia farm
A computer from another country
A toy made in another state
A car imported from overseas
Which good might be made in another country?
Fresh milk from your local farm
Strawberries from your school garden
A tablet or smartphone
Water from your sink
Why do most countries create their own currency?
To confuse travelers
To have money people can use to buy goods and services
To decorate the country
To replace schools
Which item is an example of U.S. currency?
Rocks
Dollars and coins
Toy money
Paper clips
You have enough money to buy one thing: a book or a toy. You choose the toy. What is the opportunity cost?
The toy you bought
The book you did not choose
The money your friend spent
Both items
If a student uses their allowance to save for a bike instead of buying candy, the opportunity cost is—
The bike
The candy they didn’t buy
The school day
Their homework
Opportunity cost is—
The choice you didn’t make
Free items
Something you lose forever
A type of money
