3rd Grade Market Structure Quizzes, Questions & Answers

3rd Grade

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Understanding Goods, Services, and Market Roles

Explore the distinctions between goods and services in this engaging activity. Understand their roles in the economy, identify examples, and analyze their impact on daily life and business operations. This content is essential...

Questions: 5 | Attempts: 11 | Last updated: Nov 4, 2025

Sample Question 1
What is a good?

Something you buy and consume. Goods are things that you can keep, eat, or use.

A positive or favorable quality or attribute.

An activity that brings pleasure or joy.

A polite or kind action towards others.

Sample Question 2
What is a service?

A tangible item that can be physically held or touched

An intangible concept that cannot be purchased

Something that someone does for you. When you buy a service, you hire people to perform work. You are not buying something you can touch or hold.

An act of self-service where you do things yourself without assistance

Sample Question 3
What is a producer?

A person, company, or country that makes, grows, or supplies goods or commodities for sale.

A distributor who transports goods from the manufacturer to retailers.

A consumer who purchases goods or commodities for personal use.

A manufacturer who designs and creates new products for the market.

3rd Grade Market Structure Quizzes, Questions & Answers

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