Free Enterprise

Free Enterprise

3rd Grade

6 Qs

quiz-placeholder

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Free Enterprise

Free Enterprise

Assessment

Quiz

Social Studies, Business

3rd Grade

Medium

Created by

Karen Jaquez

Used 11+ times

FREE Resource

6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Things that people make or grow and then sell are called—

services

producers

consumers

goods

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A producer is a person who makes a product or provides a

service.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A consumer is a person who spends money to buy things he or she needs or wants.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economy in which people and private businesses, not the government, decide what goods to make and buy is called a—

consumers’ economy

goods and services system

producers’ economy

free enterprise system

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean when something is in high demand?

A few people want it.

Many people want it.

There is a lot of that product.

There is little of that product.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean when something is in low supply?

There is a small amount of it.

A few people want it.

There is a large amount of it.

Everybody wants it.