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Economics Quiz
Test your knowledge of economics with our interactive quiz designed for grade 1-3 kids.
Select the right answer for below questions:
What is economics?
The study of plants and animals
The study of money and how people make choices
The study of history and culture
The study of outer space and planets
The study of money and how people make choices
What is a need?
Something that is necessary for survival, like food and water
Something that is nice to have but not essential
Something that only rich people can afford
Something that is always changing
Something that is necessary for survival, like food and water
What is a want?
Something that is necessary for survival, like food and water
Something that is nice to have but not essential
Something that only rich people can afford
Something that is always changing
Something that is nice to have but not essential
How do people get money?
By finding it on the street
By working and earning a salary or wage
By asking their parents for it
By winning the lottery
By working and earning a salary or wage
What is a job?
Something only adults do
Something you do for fun
Something you do to earn money
Something you do to pass the time
Something you do to earn money
What is saving?
Spending money on things you want
Giving money to your friends
Portion of income remaining after expenditure
Losing money
Portion of income remaining after expenditure
What is a budget?
A plan for spending and saving money
A type of game played with money
A type of candy
A way to make money
A plan for spending and saving money
What is a price?
The amount of money you have
The cost of an item or service
The number of toys you own
The color of money
The cost of an item or service
What is a trade?
Giving something to someone without getting anything in return
Buying and selling goods or services
Hiding something so no one can find it
The opposite of sharing
Buying and selling goods or services
What is a profit?
Difference between the amount earned and the amount spent
When you lose money
When you don't have any money left
When you give money to someone else
Difference between the amount earned and the amount spent
Submit
Retry
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