Grade 3 Economics Unit 7 Assessment

What has Eric been waiting for at the shoe store for three months?

Why has Eric been eagerly waiting for the shoes at the store?

What sign does Eric see when he arrives at the store?

What is Eric's reaction to seeing the 'sold out' sign?

How might Eric feel about the new shipment arriving in two weeks?

How would you describe the situation at the store in economic terms?

What economic concept is illustrated in the situation where 24 kids in Mr. Hall's class want to color with only 3 markers?

How did Henry Ford sell more cars at a lower price?

What is the best strategy for Ms. Marcel's class to sell more cupcakes at the bake sale?

What are Tamika's parents doing when they put money aside for vacation or make a contribution to Minnie's Pantry?

In the scenario provided, what kind of economic activity is represented by Eric buying a new pair of basketball shoes for his game?

What does the concept of scarcity teach us about resources?

If Julia uses beads that cost $1.00 in her necklaces instead of 50 cents, what is likely to happen to her profits?

What is the profit Julia makes when she sells just one necklace made with beads that cost 50 cents?

If Julia decides to increase the selling price of her necklaces to $4.00, what is likely to happen to her sales volume?

How much money will you have left in total after spending $7 on decorations, food, and a gift for your hamster?

What could happen to the amount you plan to save if you decide to buy a more expensive gift for your hamster?

If you increase your donation amount, what impact might it have on your savings for the party?