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Fourth Grade (Grade 4) Economics Questions

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Grade 4 Economics
A                 is someone who buys or pays for a good or service.
  1. producer
  2. user
  3. consumer
Grade 4 Economics
A                 is someone who creates a good or service for others to buy or use.
  1. consumer
  2. producer
  3. user
Grade 4 Economics
The way people in a state or country use resources to meet their needs.
  1. Economy
  2. Earth
  3. Environment
  4. People
Grade 4 Economics
                is an economic condition that exists when demand is greater than supply.
  1. Scarcity
  2. Competition
  3. Demand
  4. Overflow
Grade 4 Economics
To be successful a business must produce
  1. goods but not services
  2. goods and services using mostly human resources
  3. goods and services that people want
  4. goods and services with a high price
Grade 4 Economics
When you recycle paper, which natural resource are you helping to conserve?
  1. Water
  2. Trees
  3. Minerals
Grade 4 Economics
                is an economic condition that exists when demand is greater than supply.
  1. scarcity
  2. competition
  3. demand
  4. overflow
Grade 4 Economics
Land, fuel, water and minerals are this kind of resource:
  1. Human Resources
  2. Capital Resources
  3. Natural Resources
Grade 4 Economics
Workers are this kind of resources
  1. Human Resources
  2. Capital Resources
  3. Natural Resources
Grade 4 Economics
Money, buildings and equipment are this kind of resources:
  1. Human Resources
  2. Capital Resources
  3. Natural Resources
Grade 4 Economics
                is the amount of a product or service that is available.
  1. profit
  2. supply
  3. demand
Grade 4 Economics
                is the amount of a product or service that people want and are willing to pay for
  1. profit
  2. supply
  3. demand
Grade 4 Economics
Things that you must have to survive are called         needs        
Grade 4 Economics
When people buy and sell their products in other countries they are part of
  1. a global economy
  2. a local economy
Grade 4 Economics
The kind of industry when people are paid to do things for other people.
  1. Service Industry
  2. Profit Industry
  3. Manufacturing Industry
Grade 4 Economics
Doctors, nurses, lawyers and plumbers are example of what kind of industry:
  1. Service Industry
  2. Manufacturing Industry
Grade 4 Economics
When you barter you are trading a good or service directly for another good or service, without using money or credit.
  1. True
  2. False
Grade 4 Economics
Money a business earns after it pays for supplies, tools, salaries, and other costs is called a                .
  1. investor
  2. profit
  3. retail trade
  4. money
Grade 4 Economics
The global economy is the world market in which people and businesses from different countries buy and sell their products.
  1. True
  2. False
Grade 4 Economics
An extra reason to purchase something is called a(n)                 .
  1. need
  2. incentive
  3. opportunity cost
  4. market economy
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