Economics Review s. Slaggie’s Third Grade
Mar 26, 2015
Economics Review
Mrs. Slaggie’s Third Grade
A: B:Services Producers
1. What is a name for things people make or grow?
C: D:Consumers Goods
Answer:
D) Goods
A: B:Services Consumers
2. What is the name of people or businesses that do something to help people?
C: D:Producers Goods
Answer:
A) Services
A: B:Government Economy
3. What is the term for the way a country produces and uses its money?
C: D:Goods Services
Answer:
B) Economy
A: B:Consumer Producer
4. What is the name of someone who grows or makes something to sell to other people or business?
C: D:Goods Services
Answer:
B) Producer
A: B:Goods Producers
5. What is the name of the person or people who buy goods and services?
C: D:Consumers Services
Answer:
C) Consumers
A: B:Supply Demand
6. What is the term for the amount of goods available at one time?
C: D:Producer Consumer
Answer:
A) Supply
A:
B: Demand
7. What is the term for the number of people who want the goods that are in supply?
C: D:Producer Consumer
Supply
Answer:B) Demand
A: B:The price will stay the same.
The price will go up.
8. What happens when the supply of an object is greater than the demand?
C: D:The price will go down.
It means they sold out of that object.
Answer:
C) The price will go down.
A: B:Tax Opportunity Cost
9. What is the name for the shortage of a good or service in the marketplace?
C: D:Economy Scarcity
Answer:
D) Scarcity
A: B:Expenses Budget
10. This is a plan for using your money.
C: D:Income Consumers
Answer:
B) Budget
A: B:Income Budget
11. What is the name for the money you get?
C: D:Expenses Tax
Answer:
A) Income
A: B:Budget Income
12. This is the name for things that money is spent on.
C: D:Expenses Consumers
Answer:
C) Expenses
A: B:Teacher Baker
C: D:Doctor Police Officer
13. Which person provides goods?
Answer:
B) Exports
A: B:Marketplace Income
14. This is a place where people sell
things and buy things they need.
C: D:Budget Tax
A) Market Place
A: B:Hand made craft Mass production
15. What is it called when something is made in a factory over and
over again, in a short amount of time using an assembly line?
C: D:Expense Income
Answer:
B) Mass production
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