Economics Test

Last updated about 4 years ago

13 questions

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Library

Economics Test

Last updated about 4 years ago

13 questions

Required

1

SS.2.E.1.2

Required

1

SS.2.E.1.2

Required

1

Draggable item		Corresponding Item

SS.2.E.1.2

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It’s April in Florida and many people need umbrellas. There are not many umbrellas available in stores. The SUPPLY for umbrellas is __?_.

High

Low

It’s Hurricane season and many people need to purchase batteries in case there is a storm. There are not many AA batteries, but there are plenty of AAA batteries. The DEMAND for AA batteries is _?_.

High

Low

Match the vocabulary to it's definition.

Draggable item		Corresponding Item
Supply		When there is not enough of something.
Demand		The amount of a good or service available.
Scarcity		How much people want the good or service.

The school is selling yearbooks, but there is not enough for everyone. This is an example of ?.

Scarcity

High Supply

Low Demand

When an item is wanted by many people, the item is in _?_ demand.

High

Low

When you have few of an item, but many people want it, your item is in high _?__.

Demand

Supply

When you have few of an item, but many people want it, your item is in low _?__.

Demand

Supply

Consumers _?_ goods or services.

Buy

Sell

Make

Break

CHOOSE ALL THAT APPLY. Producers _?_ goods or services.

Buy

Sell

Make

Break

A chef is a ?.

Supply

Consumer

Producer

Demand

A person getting a haircut is a ?.

Supply

Demand

Producer

Consumer

Which is a service?

A mechanic

A chef

A grocery shopper

soda

What is a good?

An item that can be purchased or exchanged.

A person who buys items.

A person who creates things

It’s April in Florida and many people need umbrellas. There are not many umbrellas available in stores. The SUPPLY for umbrellas is ______?_____.

High

Low

It’s Hurricane season and many people need to purchase batteries in case there is a storm. There are not many AA batteries, but there are plenty of AAA batteries. The DEMAND for AA batteries is ___?___.

High

Low

Match the vocabulary to it's definition.

Supply

When there is not enough of something.

Demand

The amount of a good or service available.

Scarcity

How much people want the good or service.

The school is selling yearbooks, but there is not enough for everyone. This is an example of __?__.

Scarcity

High Supply

Low Demand

When an item is wanted by many people, the item is in ___?___ demand.

High

Low

When you have few of an item, but many people want it, your item is in high ___?____.

Demand

Supply

When you have few of an item, but many people want it, your item is in low ___?____.

Demand

Supply

Consumers ___?___ goods or services.

Buy

Sell

Make

Break

CHOOSE ALL THAT APPLY. Producers ___?___ goods or services.

Buy

Sell

Make

Break

A chef is a __?__.

Supply

Consumer

Producer

Demand

A person getting a haircut is a __?__.

Supply

Demand

Producer

Consumer

Which is a service?

A mechanic

A chef

A grocery shopper

soda

What is a good?

An item that can be purchased or exchanged.

A person who buys items.

A person who creates things