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Third Grade (Grade 3) Economics Questions

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Grade 3 Economics
What happens when the supply of a good is higher than the demand?
Grade 3 Economics
An                    economic resource                    is something, such as a good or a service, that helps people meet their needs.
Grade 3 Economics
        Trade        is the exchange of one good or service for another.
Grade 3 Economics
Where can you see a picture of a bald eagle?
  1. the Great Mail
  2. the one-dollar bill
  3. the state flag
  4. the Capital Dome
Grade 3 Economics
Specialization is doing more than one kind of work or selling more than one kind of good.
  1. True
  2. False
Grade 3 Economics
Capital resources are         tools        ,             buildings            ,            machines           .
Grade 3 Economics
List one way that scarcity affects the consumption of a good.
Grade 3 Economics
Buying and selling between states is
  1. international trade
  2. interstate trade
  3. trade
  4. supply
Grade 3 Economics
A                nonrenewable                resource cannot not be made again quickly by nature or people.
Grade 3 Economics
What is the definition of the word economy?
Grade 3 Economics
How does a seller decide how much to charge?
Grade 3 Economics
Dividing work so that each worker does a part of a larger job is called                     division of labor                    .
Grade 3 Economics
A(n)            employee           gets paid to work for someone else.
Grade 3 Economics
What is the difference between an import and an export?
Grade 3 Economics
How do furniture businesses use human resources?
Grade 3 Economics
Food, clothing, and shelter are the main reasons people        work       .
Grade 3 Economics
What are three examples of ways that people can prepare for specialized jobs?
Grade 3 Economics
How do furniture businesses use human resources?
Grade 3 Economics
List three ways that construction workers use division of labor.
Grade 3 Economics
List two communities in different parts of the world that use division of labor.
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