SATURDAY REVIEW

THIRD GRADE WORLD TRENDS TEACHER: OLGA DE MARROQUN NAME: DATE:______________________ _________________________________________________

GENERAL INSTRUCTIONS: use pencil. Color all the pictures you draw.
SERIES I INSTRUCTIONS: Color with yellow the vocabulary term that best completes each sentence. 1. Baseball bats, softballs, and gloves are__________________. services goods profit

2. You can ____________ money by working and getting paid. earn want budget

3. Making a _______________ can help you plan how to spend your money. profit demand budget

4. Hair stylists, umpires, and doctors provide __________ to others in the community. supplies services goods

5. Robin had to make an ___________ between buying two CDs and buying a baseball bat. opportunity cost SERIES II income economic choice

INSTRUCTIONS: complete the sentences with the vocabulary words from the box. Saving Profit Good Economic choice Supply Product Service Earn Income Budget

1. ____________________ is a plan that shows income, spending, and saving. 2. ______________________ to get paid from working. 3. ______________________ a good or a service. 4. _______________________ the decision to buy one thing rather than another. 5. _________________ the income a business has left after all its coast are paid. 6. _________________ all the money a person earns from a job or other places. 7. ___________________ a job that one person does for other person.

8. ____________________ the amount of a product that producers want to sell at different prices.

9. _________________________ something people make or grow and then sell. 10. ___________________________ the amount of income that is not spend. SERIES III INSTRUCTIONS: Circle with color purple the term in parenthesis that best complete each sentence. 1. Softball bats, vegetables, and books are (goods services). 2. An umpire provides a (good service) at a softball game. 3. Goods and services together are called (bats products). 4. If the supply of a certain product increases, the price usually will go (up down) 5. If few people are buying bats from the sporting goods store, the store owner probably will (lower the price order more bats). 6. Usually if the (demand supply) for a product decreases, the price will go down. 7. Profit is the (income supply) that a business has left after all its costs are paid. 8. To help it make a profit, a business will try to keep the costs of making goods (down up). 9. A business can make a larger profit by selling its products at a (lower higher) price. 10. When given a choice, people want to pay (less more) for a product they want to buy. SERIES IV INSTRUCTIONS: read the sample of a budget. Then answer the following questions that follow. WEEK Week 1 Week 2 EARNING $ 10.00 $14.00 SPENDING $ 5.00 $ 3.00 SAVING $ 5.00 $ 11.00

Week 3 Week 4 Total 1. During

$ 10.00 $ 10.00 $ 44.00 which week did

$ 5.00 $2.00 $15.00 you earn the

$ 5.00 $ 8.00 $ 29.00 most money?

____________________ 2. During which weeks did you spend the most money?

__________________ 3. Suppose that you want to buy a basketball that coasts $ 20.00. Do you have enough money saved after four weeks?

___________________. 4. Can you also buy a CD that costs $12.00? _________________________ 5. How much do you think you might earn during week 5? _______________________.

SERIES INSTRUCTIONS: complete the chart below with the five steps of the

decision-making process.