Economics

The study of how people use resources is _____.
1. citizenship
2. economics
3. China
_____ sell goods and services.
1. Consumers
2. Producers
3. Taxes
_____ buy goods and services.
1. Consumers
2. Producers
3. Resources
A trade that does not use money is called _____.
1. income
2. expense
3. barter
_____ is the inability to satisfy all of our wants at the same time.
1. Bartering
2. Resourcing
3. Scarcity
We must make good _____ with our money.
1. ideas
2. products
3. choices
We must satisfy all of our _____ with our money before we buy our wants.
1. goods
2. needs
3. services
If scarcity occurs on a toy, it could make the price _____.
1. go up
2. go down
3. stay the same
An example of a service is a _____.
1. Playstation 2
2. teacher
3. Gameboy
An example of a good would be a _____.
1. T.V.
2. firefighter
3. policeman
We experience scarcity the most with _____.
1. toys
2. money
3. paper
Which of the following is a way to earn money?
1. buying a soda
2. mowing the lawn
3. playing a game
Which type of money allows you to buy now and pay later?
1. cash
2. credit cards
3. checks
Which type of money allows you to buy anything anytime?
1. cash
2. credit cards
3. checks
Which type of money tells the bank it is o.k. to give them your money?
1. cash
2. credit cards
3. checks
Which of the following are needs? (Check all that apply.)
1. food
2. air
3. shelter
4. chocolate
Which of the following are wants? (Check all that apply.)
1. chocolate
2. air
3. toys
4. clothing
Natural, Human, or Capital resource?

Copy Machine
1. Natural
2. Human
3. Capital
Natural, Human, or Capital resource?

Water
1. Natural
2. Human
3. Capital
Natural, Human, or Capital resource?

Firefighter
1. Natural
2. Human
3. Capital
Natural, Human, or Capital resource?

Fish
1. Natural
2. Human
3. Capital
Natural, Human, or Capital resource?

Pencil
1. Natural
2. Human
3. Capital
Natural, Human, or Capital resource?

Tractor
1. Natural
2. Human
3. Capital
Natural, Human, or Capital resource?

Trees
1. Natural
2. Human
3. Capital
_____ are things that are nice to have, but are not needed to survive.
1. Wants
2. Needs
3. Gotta's
_____ is where you pay cash for an item.
1. Money Economy
2. Scarcity
3. Bartering
_____ is another word for money.
1. Barter
2. Currency
3. Credit
_____ are things you must have in order to survive.
1. Needs
2. Wants
3. Maybes
_____ is the process of trading something you do not need or have too much of, for something else that you need or want.
1. Bartering
2. Sharing
3. Money Economy
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. natural
2. human
3. capital
The image below shows a _____ resource.
1. human
2. capital
3. natural
_____ are things a person does.
1. Services
2. Producers
3. Goods
_____ are things found in and on the earth. These are the most important resources because we need many of them to survive.
1. Natural resources
2. Capital resources
3. Human resources
A _____ is a buyer or customer, or someone who is using resources.
1. consumer
2. producer
3. provider
_____ are things that can be held in your hand and are often consumed. Examples are vegetables, books, pencils, cotton and jewelry.
1. Goods
2. Consumers
3. Services
One way to _____ money is to do chores.
1. earn
2. spend
3. create
Economics is the study of how people use _____.
1. water
2. resources
3. producers

Economics

Multiple-Choice ExerciseContent © 2009 Tricia Yeager; Author of Activity: Tami Maloney; All rights reserved. No commercial, for-profit use of this material is allowed. E-mail comments and questions to Tami Maloney.

Multiple-Choice Exercise
Content © 2009 Tricia Yeager; Author of Activity: Tami Maloney; All rights reserved. No commercial, for-profit use of this material is allowed. E-mail comments and questions to Tami Maloney.