Economics Questions Grade 3 Based on Georgia GPS Created by Matt Dumbleton AHS Peer Facilitator 12.2008

Trading something of value for another item of value without using money is called: A) Bartering B) Taxes C) Export D) Producers

A) Bartering

B) Taxes

C) Export

D) Producers

Schools, libraries, roads, police, and fire protection are all paid through: A) Natural resources B) Budget C) Taxes D) Producers

A) Natural resources

B) Budget

C) Taxes

D) Producers

Fill in the blank: a helps people to keep track of how much money they spend and save. A) Scarcity B) Producers C) Taxes D) Budget

A) Scarcity

B) Producers

C) Taxes

D) Budget

These people make or grow goods or sell services A) Creators B) Growers C) Makers D) Producers

A) Creators

B) Growers

C) Makers

D) Producers

If a company’s budget was $100 dollars, what of the following amounts could it spend? A) $101 B) $590 C) $95 D) $1,000

A) $101

B) $590

C) $95

D) $1,000

Bob agrees with Joe to trade his football for Joe’s baseball. What is this an example of? A) Bartering B) Importing C) Demanding D) Scarcity

A) Bartering

B) Importing

C) Demanding

D) Scarcity

Which of the following is NOT a natural resource? A) Air B) Wind C) Paper D) Oil

A) Air

B) Wind

C) Paper

D) Oil

An entrepreneur: A) Works at a Burger King B) Possesses their own company C) Collects Taxes D) Is a professional baseball player

A) Works at a Burger King

B) Possesses their own company

C) Collects Taxes

D) Is a professional baseball player

In what town are apples grown? Boryeong B) Gongju C) Hongseong D) Yesan

In what town are apples grown?

Boryeong

B) Gongju

C) Hongseong

D) Yesan