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Economics Questions - All Grades

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Grade 3 Economics
What are natural resources?
  1. shelter, food,
  2. something found in nature that people can use
  3. goods and services
Grade 3 Economics
Which group makes and sells goods?
  1. consumers
  2. traders
  3. producers
  4. servers
Grade 4 Economics
Grade 3 Economics
A doctor is an example of which type of resource?
  1. natural
  2. human
  3. capital
  4. entrepreneurial
Grade 2 Economics
Grade 6 Economics
Entrepreneurs are motivated mainly by
  1. a need to be in charge.
  2. the desire for risk.
  3. the hope of making a profit.
  4. the need to repay their loans.
Grade 3 Economics
What might happen if the demand for a new sneaker began to quickly rise?
  1. More sneaker would be made
  2. The price of the sneaker would go up
  3. People would refuse to pay for sneaker
  4. The sneaker price would be lowered
Grade 3 Economics
What are human resources?
  1. the people and ideas needed to produce something
  2. food, shelter, clothing
  3. water, trees, air, sun
Grade 2 Economics
Name three kinds of transportation that move goods?
  1. Trucks, balloons, planes
  2. ships, cars, buses
  3. kites, trains, ships
Grade 2 Economics
Bartering means to
  1. trade
  2. borrow
  3. share
Grade 12 Economics
What is scarcity?
  1. When an unlimited amount of goods and services are available to meet limited wants and needs
  2. When a limited amount of goods and services are available to meet unlimited wants and needs
  3. When a limited amount of goods and services are available to meet limited wants and needs
  4. When an unlimited amount of goods and services are available to meet unlimited wants and needs
Grade 11 Economics
When a surplus occurs, suppliers tend to
  1. maintain prices
  2. lower prices
  3. raise prices
  4. increase demand
Grade 3 Economics
An industry is a business that                      
  1. provides services
  2. makes or trades goods
  3. is run by volunteers
  4. was begun by the Omaha
Grade 2 Economics
NEEDS are:
  1. things that we like
  2. things we must have to live
  3. things that people make or grow
Grade 3 Economics
Grade 3 Economics
Which is an example of bartering?
  1. buying a football at Walmart
  2. getting a coke for $1
  3. trading a bouncy ball for a pencil
  4. giving your friend 2 quarters for a candy bar
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