3rd Grade Social Studies: Chapter 6 Economics: Question Preview (ID: 25969)

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You buy _______________ when you visit the doctor for a checkup.
a) goods b) services c) . d) .
You are buying _____________ when you buy flowers from a florist.
a) goods b) services c) . d) .
You are offering _________ if you are hired to cut someone's lawn.
a) goods b) services c) . d) .
Fish from a pet store are ______________.
a) goods b) services c) . d) .
Getting your hair cut is a ____________
a) service b) good c) . d) .
Games from a garage sale are ___________.
a) service b) goods c) . d) .
After Eric paid the bills and employees, he still had a $300
a) profit b) budget c) producer d) consumer
A ________________ is someone who pays for goods and services.
a) producer b) consumer c) business d) profit
Katy made a _________ to plan how to save and spend her money.
a) profit b) consumer c) producer d) budget
________________ is one expense a business does NOT have.
a) electricity b) rent c) consumers d) employees' pay
A business could ________________ to make more money.
a) pay employees more b) buy less expensive good c) increase expenses d) have fewer consumers
Jason sells lemonade. If the cost of lemons goes up and he doesn't raise the price of his lemonade, _____________.
a) his profits will go down b) he will sell less lemonade c) he will buy less d) customers will pay more
Which is NOT true about our economy?
a) Running a business is hard work. b) People can choose what they produce. c) People can choose what they consume. d) Everything is cheap or free.
Every budget should ___________
a) stop you from spending b) increase your expenses c) balance your income. d) increase your income
___________ is one way to increase your income.
a) Buying an iPad b) Getting a job c) Going shopping d) Making a budget
_______________________ is one way to earn interest.
a) Putting money in a savings account b) Spending money on expenses c) Putting money in a piggy bank d) Making a budget
If your brother sells you his old baseball mitt for $2 you are paying for ______.
a) services b) goods c) . d) .
If you pay your sister $5 to clean your messy room, you are paying for _______.
a) services b) goods c) . d) .
A ___________ pays for goods or services.
a) consumer b) producer c) . d) .
A _________ offers goods or services for sale.
a) producer b) consumer c) . d) .
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