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Fifth Grade (Grade 5) Economics Questions

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Grade 5 Economics
An irrigation system helps farmers
  1. plant crops
  2. harvest crops
  3. bring water to dry land
Grade 5 Economics
Which idea BEST explains why prices of a product increase when many people want the product but there isn't enough of it for everyone?
  1. scarcity
  2. importing and exporting goods
  3. supply and demand
Grade 5 Economics
Goods from the United States that are sold to people in other countries are called
  1. imports
  2. factors of production
  3. exports
Grade 5 Economics
Ashley bought a new dress (goods) and got her hair cut (service). She is a
  1. consumer
  2. budget
  3. mother
  4. expense
Grade 5 Economics
Trading goods and services is known as:
  1. Barter
  2. Exchanging money
  3. Financing
  4. Profit
Grade 5 Economics
A business that provides money-related services
  1. ATM
  2. Board of directors
  3. Credit union
  4. Financial institution
Grade 5 Economics
Which is an not an example of a natural resource?
  1. water
  2. gold
  3. paper
  4. lead
Grade 5 Economics
                  free enterprise                   is an economic system in which people can own property and business and are free to decide what to make, how much to make, and what price to charge
Grade 5 Economics
The forces that determine the selling price for goods are called?                     Supply and demand                    
Grade 5 Economics
An electronic transfer of money from one account to another; often used by employers to pay employees.
  1. endorse
  2. direct deposit
  3. net deposit
  4. personal check
Grade 5 Economics
A group of people chosen to manage or direct a business or organization
  1. ATM
  2. Board of directors
  3. Credit union
  4. Financial institution
Grade 5 Economics
Economy: A system that guides how money is earned and        used        in a society.
Grade 5 Economics
Moving the goods from a warehouse to a store to sell to consumers is called
  1. production
  2. distribution
  3. consumption
  4. natural resource
Grade 5 Economics
Give an example of two goods
Grade 5 Economics
Which is an example of a natural resource?
  1. paper
  2. gold
  3. pencil
Grade 5 Economics
The amount of money placed into an account after all deductions, such as cash back, are made.
  1. bounced check
  2. check register
  3. direct deposit
  4. net deposit
Grade 5 Economics
A booklet for recording money put into (deposited) or removed from (withdrawn) an account.
  1. bounced check
  2. CFO
  3. check register
  4. direct deposit
Grade 5 Economics
A debit card allows customers to electronically and immediately withdraw funds from their accounts.
  1. True
  2. False
Grade 5 Economics
           paycheck           : A check received for a work completed.
Grade 5 Economics
A bus driver, teacher, and dentist are examples of people involved in
  1. selling goods
  2. providing services
  3. making profits
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