Economics
Social Studies
Economics starts at 2 and continues till grade 5.
QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Economics.
How you perform is determined by your score and the time you take.
When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.
See sample questions for grade 3
Is a bicycle a good or a service?
Is a doctor a producer or a consumer when treating patients?
What do we call people who buy and use goods and services?
What do we call the money people pay for using something, like renting a bike?
If a store has only 5 apples and 10 people want to buy them, is there scarcity?
If you have $5 and want to buy a toy that costs $7, do you have enough money?
A family wants to buy a new refrigerator. They compare prices at three different stores before making a decision. What is this process called? (1) Saving (2) Budgeting (3) Shopping around (4) Borrowing
A lemonade stand sells 10 cups for $1 each. If they sell all the cups, how much money do they make?
If you have to choose between buying a toy or a book with your money, what is this called? (1) Scarcity (2) Choice (3) Service (4) Producer
Which of the following is an example of a service? (1) A haircut (2) A toy (3) A book (4) An apple
Which of the following is an example of a want? (1) Medicine (2) Ice cream (3) Water (4) Clothes
Which of these is a natural resource? (1) Plastic (2) Water (3) Glass (4) Paper
Fill in the blank: People who make goods or provide services are called __________.
Fill in the blank: The amount of something that people want to buy is called __________.
Fill in the blank: The money people earn from working is called __________.
Fill in the blank: The person who owns a business is called an __________.
If a store has only 5 apples and 10 people want to buy them, is there scarcity?
If you have $5 and want to buy a toy that costs $7, do you have enough money?
True or False: A factory worker is a producer.
True or False: A teacher provides a service.
