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Economics Questions - All Grades

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The Economics questions below are in the following grade levels:
Grades: 1 2 3 4 5 6 7 8 9 10 11 12 College Continuing Education
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Grade 3 :: Economics by Tlahooti
What is an economy?
  1. people, places, or things
  2. the way an area uses and produces natural resources, goods, and services to meet its needs
  3. a business that has a lot of people working for it
Grade 5 :: Economics by AmySakowitz
Items brought into a country are called
  1. exports
  2. goods
  3. imports
  4. services
Grade 3 :: Economics by Tlahooti
What is an entrepreneur?
  1. a factory
  2. a person who starts and runs his or her own business
  3. a book about history
Grade 3 :: Economics by Tlahooti
What is a manufacturer?
  1. wants and needs
  2. a place to recycle paper
  3. a business that uses machinery to make products
Grade 5 :: Economics by AmySakowitz
The amount of money left over after all production costs are paid is called
  1. extra
  2. surplus
  3. profit
  4. in the black
Grade 5 :: Economics by AmySakowitz
Scarcity is
  1. a time when a consumer is afraid to spend money
  2. a time when there is a surplus of goods
  3. a time when there is not enough of something to go around
  4. a time when there is not enough money in the bank
Grade 3 :: Economics by Tlahooti
What is interdependence?
  1. freedom from laws
  2. relying on one another to meet needs and wants
  3. giving help to others
Grade 5 :: Economics by AmySakowitz
The type of system the United States uses for buying and selling is called a
  1. free system
  2. consumer driven system
  3. market system
  4. democratic system
Grade 3 :: Economics by Tlahooti
What are capital resources?
  1. water, land, sun
  2. where the president lives
  3. the machines needed to produce something
Grade 6 :: Economics by Qalam
What determines the prices of goods in a market economy?
  1. customs and traditions
  2. government agencies
  3. supply and demand
  4. customers
Grade 4 :: Economics by kzainea
Most of the farmers' tomato crops have been killed by insects. What will probably happen to the cost of tomatoes?
  1. The cost will increase.
  2. The cost will decrease.
  3. The cost will stay the same.
  4. The cost will decrease, and then increase again.
Grade 4 :: Economics by kzainea
To be successful a business must:
  1. produce goods but not services
  2. produce goods and services using mostly human resources
  3. produce goods and services that people want
  4. produce goods and services with a high price
Grade 4 :: Economics by kzainea
The study of how goods and services are made, sold and used is                
  1. incentives
  2. specialization
  3. economics
  4. circular flow
Grade 4 :: Economics by kzainea
Which is NOT an example of private goods and services?
  1. a new car
  2. an iPad
  3. a school
  4. a cell phone
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