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 4
If you have to choose between buying a toy or a book with your allowance, what is the thing you give up called?
What do we call the money people earn for doing work?
What do we call the people who use resources to make goods and services?
What is a loan?
If a farmer grows more apples than people want to buy, what happens to the price of apples? (1) It goes up (2) It goes down (3) It stays the same (4) It disappears
If a lemonade stand sells 20 cups at $1 each, how much money does it make?
If a store has a sale and lowers the price of toys, what will most likely happen to the demand for toys? (1) It will go up (2) It will go down (3) It will stay the same (4) It will disappear
If you have $10 and spend $7 on a book, how much money do you have left?
If a farmer grows more apples than people want to buy, what happens to the price of apples? (1) It goes up (2) It goes down (3) It stays the same (4) It disappears
If a store has a sale and lowers the price of toys, what will most likely happen to the demand for toys? (1) It will go up (2) It will go down (3) It will stay the same (4) It will disappear
What is the main purpose of money in an economy? (1) To decorate homes (2) To buy and sell goods and services (3) To make friends (4) To build houses
What is the study of how people use resources to meet their needs and wants called? (1) Biology (2) Economics (3) Chemistry (4) Astronomy
A person who buys and uses goods and services is called a ________.
Fill in the blank: People who make goods or provide services to earn money are called ________.
Fill in the blank: The amount of a product that is available to sell is called ________.
Fill in the blank: The amount of a product that people want to buy is called ________.
True or False: A bank is a place where people can save and borrow money.
True or False: A budget helps people plan how to spend and save their money.
True or False: A factory is an example of a capital resource.
True or False: All goods and services cost the same amount of money.
