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Economics - 3rd Grade TEKS

Quiz by Rebecca Raymond

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12 questions
Show answers
  • Q1
    Which is an example of spending money?
    Question Image
    mowing the lawn for your neighbor
    giving old clothes to the homeless shelter
    buying a new container of slime
    depositing birthday money in the bank
    30s
  • Q2
    Which is an example of donating money?
    Question Image
    paying someone to fix your computer
    selling lemonade in your own stand
    buying lunch at McDonald's
    giving money to the animal shelter
    30s
  • Q3
    Which is a way to earn money?
    Question Image
    washing your parent's cars for $10
    buying a new computer
    making your own slime
    watching television
    30s
  • Q4
    Selling lemonade in your neighborhood and running out of product is an example of
    Question Image
    scarcity
    a budget
    saving money
    a free market
    30s
  • Q5
    A drought occurred in South Texas. What is going to happen to the price of watermelons?
    Question Image
    The price is going to decrease.
    The watermelons will taste bad.
    The price is going to stay the same.
    The price is going to increase.
    30s
  • Q6
    ABC Toy Company makes a box of fidget spinners for $15.00. To make a profit, how much money will they have to make selling fidget spinners?
    Question Image
    Exactly $15.00
    Between $13.00 and $15.00
    Less than $15.00
    More than $15.00
    30s
  • Q7
    Joe is selling picture holders on Market Day at school. If he is selling them quickly, what should he do to slow down his sales and make more profit?
    Question Image
    Joe should keep everything the same.
    Joe should raise the price of his picture holders.
    Joe should lower the price of his picture holders.
    Joe should hide some of his picture holders.
    30s
  • Q8
    Sue makes bookmarks for Market Day and no one buys them unless she sells them for 1₵ which is less than it cost to make them. What happens now?
    Sue will make a huge profit!
    Sue will sell out of bookmarks.
    Sue will have a smaller demand.
    Sue will not make any profit.
    30s
  • Q9
    In McKinney, prices to get haircuts have decreased in the last few years. Why is this?
    Question Image
    There are more hairstylists which means more choices of who to go see.
    People like to get their hair cut.
    I don't know
    There are less hairstylists and people don't have any choice.
    30s
  • Q10
    Being able to start a business and sell whatever you want to consumers, without permission from the government is called:
    A Free Enterprise System
    A Free Store
    A Closed Market
    A Closed System
    30s
  • Q11
    The table shows how much Becky spends to create a Mother's Day gift that she is selling on her Etsy website. What is the cost of creating one gift?
    Question Image
    $9
    $8
    $12
    $10
    30s
  • Q12
    If each gift costs $9 to make, why should Becky's selling price be more than $9?
    Question Image
    So Becky can make a profit from her sales.
    To make selling her product easier.
    So Becky can donate money to charity.
    So demand is lower than her supply.
    30s

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