Economics and Trade Practice Tests
These Grade 3 Social Studies practice tests introduce how people and communities use limited resources to make choices. Students identify needs, wants, goods, services, producers, consumers, natural and capital resources, scarcity, trade, money, saving, markets, and public services.
Skills covered
- Distinguishing needs from wants
- Identifying goods, services, producers, and consumers
- Recognizing natural, human, and capital resources
- Explaining scarcity, choices, budgets, and opportunity cost
- Understanding trade, barter, money, imports, and exports
- Recognizing supply, demand, saving, markets, and public services
How to use these practice tests
First identify whether the question describes a good, service, producer, consumer, resource, or choice. For trade questions, look for an exchange between people or places. For scarcity questions, remember that limited resources require decisions about what to use, buy, save, or give up.
For more Grade 3 Social Studies practice, return to the Grade 3 Social Studies category.
