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Third Grade (Grade 3) Economics Questions

You can create printable tests and worksheets from these Grade 3 Economics questions! Select one or more questions using the checkboxes above each question. Then click the add selected questions to a test button before moving to another page.

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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 3 Economics
A doctor is an example of which type of resource?
  1. natural
  2. human
  3. capital
  4. entrepreneurial
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 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 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
Grade 3 Economics
Grade 3 Economics
When does using barter instead of money work?
  1. When both people have the same amount of money
  2. When one person has goods and the other has money
  3. When no one knows what the item costs
  4. When both people want what the other has
Grade 3 Economics
When is bartering not possible?
  1. when people trade goods or services
  2. when no one wants to trade for your product or service
  3. when kids are trading baseball cards
  4. when you trade something without using money
Grade 3 Economics
Grade 3 Economics
What would lead to higher prices?
  1. Low supply, high demand
  2. High supply, low demand
  3. High supply, high demand
  4. Low supply, low demand
Grade 3 Economics
What of these is neither a good NOR a service?
  1. a gallon of gas
  2. piano lessons
  3. a meal at a restaurant
  4. a $20 bill
Grade 3 Economics
Grade 3 Economics
What is another word for a person who works to produce goods or provides services?
  1. human resource
  2. natural resource
  3. consumer
  4. capital resource
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