Third Grade Economy

A: B:Services Producers

1. What is a name for things people make or grow?

C: D:Consumers Goods

GOOD JOB!

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

GOOD JOB! 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

GOOD JOB! 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

GOOD JOB!

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

GOOD JOB! C) Consumers

A: B:Supply Demand

6. What is the term for the amount of goods available to sell?

C: D:Producer Consumer

GOOD JOB! A) Supply

A:

B: Human Resources

7. What is the term for the workers at a workplaceExample: teachers, doctors, and sales clerks

C: D:Producer Demand

Capital Resources

GOOD JOB! B) Human Resources

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?

(Too much stuff left over and no one wants it.)

C: D:The price will go down.

It means they sold out of that object.

GOOD JOB!

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

GOOD JOB!

D) Scarcity

A: B:Expenses Budget

10. This is a plan that helps you decide how to use your money.

C: D:Income Consumers

GOOD JOB!

B) Budget

A: B:Income Budget

11. What is the name for the money you earn for doing a job?

C: D:Expenses Tax

GOOD JOB! A) Income

A: B:Budget Income

12. This is the name for things that money is spent on.

C: D:Expenses Consumers

GOOD JOB! C) Expenses

A: B:Teacher Baker

C: D:Doctor Police Officer

13. Look at the choices below.

Which person provides goods?

GOOD JOB!

B) baker

A: B:trees chairs

14. Look at the choices below.

Which is a natural resource?

C: D:trucks televisions

GOOD JOB!

A) trees

That is incorrect. Please try

again.

A: B:Human Resources Capital Resources

15. What is the term for the tools, equipment, and buildings we use to help produce things.Examples: trucks, computers, cash registers

C: D:Expense Income

Answer:

B) Capital Resources

Great Job!!!!Great Job!!!!

Thanks for playing!Thanks for playing!