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.
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See sample questions for grade 5
If you have to choose between buying a toy or a book with your allowance, what is the opportunity cost if you buy the toy?
What do we call the amount of a good or service that people are willing and able to buy?
What do we call the money people earn for doing work?
What is a budget and why is it important for families?
If a family earns $2,000 a month and spends $1,500, how much do they save?
If you have to choose between buying a toy or a book with your allowance, what is the opportunity cost if you buy the toy?
A bakery uses flour, sugar, and workers to make bread. In economics, what are flour and sugar examples of?
A town wants to build a new library. The government must decide how to use its limited money. What is this situation an example of in economics?
If a store has a sale and lowers the price of shoes, what will likely happen to the demand for shoes? (1) It will increase (2) It will decrease (3) It will stay the same (4) It will disappear
If the price of a toy goes up, what usually happens to the demand for that toy? (1) It increases (2) It decreases (3) It stays the same (4) It disappears
What is the study of how people use resources to meet their needs and wants called? (1) Biology (2) Economics (3) Chemistry (4) Geography
Which of the following is a public good or service? (1) A private car (2) A public park (3) A video game (4) A cell phone
A person who buys and uses goods and services is called a ________.
Fill in the blank: The amount of goods and services that producers are willing to sell at different prices is called ________.
Fill in the blank: The money left over after all costs of running a business are paid is called ________.
Fill in the blank: The money people pay to the government for public services is called ________.
True or False: A budget is a plan for how to spend and save money.
True or False: A market is any place where buyers and sellers meet to exchange goods and services.
True or False: Bartering is trading goods and services without using money.
True or False: Division of labor means that each worker does every job in a factory.
