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Economics & Culture

Grade 1 · On-level practice · 8 questions · Version PG-3FT-10PN

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1.Explain “services” in your own words.
2.Explain “scarcity” in your own words.
3.Explain “goods” in your own words.
4.Explain “opportunity cost” in your own words.
5.Explain “want” in your own words.
6.Explain “supply” in your own words.
7.Explain “consumer” in your own words.
8.Explain “need” in your own words.

How to use this skill

Grade 1 economics & culture practice with original, difficulty-matched questions.

Worked example

Identify resources, choices, tradeoffs, and the cultural context of an exchange.

Common mistake

Ignoring the next-best choice given up.

Helpful hint

Name both the benefit chosen and the opportunity cost.

More free printable versions

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