Question

economics cloze reading
name: _______________________ date: ________
use the words at the bottom to fill in the blanks in the text about economics. use context clues!
if you had $20 what would you spend it on? items that are tangible, that you can touch, are called 　　. some goods are made out of 　　, or resources found in nature like water, soil, oil, or natural gas. you might pay someone to do something for you like cut your hair (barber) or help you learn (teacher). then, you are paying for a 　　.
occasionally, you might not have enough money to buy an item you need. you could 　　, like trading with someone, or you could get a 　　 from the bank to borrow money. then, you have to pay it back with interest!
© miss bailey 2019 https://www.teacherspayteachers.com/store/teaching-curious-kids
natural resources 　　 goods 　　 loan 　　 service 　　 barter

Explanation:

1. The first blank describes tangible, touchable items, which matches "goods".
2. The second blank refers to nature-sourced resources, matching "natural resources".
3. The third blank refers to paid actions like a barber or teacher's work, matching "service".
4. The fourth blank describes trading items instead of paying, matching "barter".
5. The fifth blank refers to borrowed money from a bank, matching "loan".

Answer:

1. First blank: goods
2. Second blank: natural resources
3. Third blank: service
4. Fourth blank: barter
5. Fifth blank: loan