1) People who work to produce goods and services are called... a) Capital resources b) Human resources c) Classroom resources d) Natural resources 2) What type of resource is a factory? a) a capital resource b) a human resource c) an animal resource d) a natural resource 3) What type of resource are all of the following: trucks, tractors, tools, and buildings? a) farm resources b) human resources c) natural resources d) capital resources 4) What type of resource is pictured? a) plant resource b) human resource c) natural resource d) capital resource 5) Choose capital resources found on a farm. a) sun, water, trees b) cows, pigs, horses c) tractor, shovel, rake d) farmer, shepard, cowboy 6) Vishnu and Luke agreed to trade pokemon cards. This is an example of: a) saving b) purchasing c) investing d) bartering 7) What is bartering? a) Exchanging goods or services without using money b) Using money to pay for things c) People who help others d) Visiting other places 8) Which statement is an example of bartering? a) A waiter collects a $3 tip from a customer. b) A restaurant charges $5 for a piece of pizza. c) Anaya buys a candy bar for $1. d) Mohamed exchanges a video game for Pokemon cards with his best friend. 9) How did people in the past get things they needed without using money? a) They played rock, paper, scissors. b) They bartered. c) They arm wrestled. d) They declared a thumb war. 10) Who is a consumer? a) A person who shops at a store. b) A person who sells peanuts at the park. c) A person who cuts hair. d) A person who sells food from a food truck. 11) Who is the producer? a) A baker who makes bread at a bakery. b) The woman who buys the bread. c) The man who eats the bread in a restaurant. d) The child who feeds bread to a duck. 12) What is it called when there are limited resources? a) bartering b) consuming c) producing d) scarcity 13) Charlie goes to a restaurant. She orders a hamburger and fries. She pays for her meal and leaves a tip for the waiter. Charlie is a: a) resource b) consumer c) producer d) waiter 14) Seven students want pizza for lunch, but there are only three slices left. This is an example of: a) charging b) resources c) scarcity d) bartering 15) Which is a list of goods? a) barber, baker, mechanic b) painter, teacher, farmer c) custodian, principal, bus driver d) fruit, book, stuffed animal 16) Which is a list of services? a) table, chair, desk b) apple, carrots, corn c)  hair cut, car wash, Uber Eats d) fruit, book, stuffed animal 17) Ms. Peet's class has 5 chairs and 20 students. In this classroom, there is a scarcity of: a) consumers b) human resources c) producers d) capital resources 18) Which is an example of bartering? a) Buying a football at Walmart b) Getting a soda for $1 c) Trading a bouncy ball for a pencil d) Giving your friend 2 quarters for a candy bar 19) When does bartering work instead of using money? a) When both people have the same amount of money. b) When each person wants what the other has. c) When one person has goods and the other has money. d) When no one knows what the item costs. 20) A person who uses resources to make goods or provide services: a) saver b) consumer c) spender d) producer

Economics Review - 2nd Grade

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