Third Grade Economy. A:B: ServicesProducers 1. What is a name for things people make or grow? C:D: ConsumersGoods.

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Presentation transcript:

Third Grade Economy

A:B: ServicesProducers 1. What is a name for things people make or grow? C:D: ConsumersGoods

GOOD JOB! D) Goods

A:B: ServicesConsumers 2. What is the name of people or businesses that do something to help people? C:D: ProducersGoods

GOOD JOB! A) Services

A:B: GovernmentEconomy 3. What is the term for the way a country produces and uses its money? C:D: GoodsServices

GOOD JOB! B) Economy

A:B: ConsumerProducer 4. What is the name of someone who grows or makes something to sell to other people or business? C:D: GoodsServices

GOOD JOB! B) Producer

A:B: GoodsProducers 5. What is the name of the person or people who buy goods and services? C:D: ConsumersServices

GOOD JOB! C) Consumers

A:B: SupplyDemand 6. What is the term for the amount of goods available to sell? C:D: ProducerConsumer

GOOD JOB! A) Supply

A:B: Human Resources 7. What is the term for the workers at a workplace Example: teachers, doctors, and sales clerks C:D: ProducerDemand 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: TaxOpportunity Cost 9. What is the name for the shortage of a good or service in the marketplace? C:D: EconomyScarcity

GOOD JOB! D) Scarcity

A:B: ExpensesBudget 10. This is a plan that helps you decide how to use your money. C:D: IncomeConsumers

GOOD JOB! B) Budget

A:B: IncomeBudget 11. What is the name for the money you earn for doing a job? C:D: ExpensesTax

GOOD JOB! A) Income

A:B: BudgetIncome 12. This is the name for things that money is spent on. C:D: ExpensesConsumers

GOOD JOB! C) Expenses

A:B: TeacherBaker C:D: DoctorPolice Officer 13. Look at the choices below. Which person provides goods?

GOOD JOB! B) baker

A:B: treeschairs 14. Look at the choices below. Which is a natural resource? C:D: truckstelevisions

GOOD JOB! A) trees

That is incorrect. Please try again.

A:B: Human ResourcesCapital 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: ExpenseIncome

Answer: B) Capital Resources

Great Job!!!! Great Job!!!! Thanks for playing! Thanks for playing!