A
People get jobs because they need to:
A. Earn money
B. Go on vacations
A. Earn money
Income is:
A. Money you get for your birthday
B. Money you earn from working
B. Money you earn from working
Needs are:
A. Things that all you to live
B. Things that are fun but not necessary
A. Things that all you to live
Income is important because:
A. It helps you pay for wants and needs
B. It helps you make friends
A. It helps you pay for wants and needs
Wants are:
A. Things that you would like to have
B. Things that you need to live
A. Things that you would like to have
A good is
A. When you do well at something
B. An item that people buy
B. An item that people buy
A service is:
A. A place where you sleep
B. Work done by someone to help another person
B. Work done by someone to help another person
Natural Resources are things that:
A. People make
B. Are found in nature
B. Are found in nature
One example of a natural resource is:
A. Plant
B. Car
A. Plant
A producer is someone who
A. Teaches kids
B. Makes goods or provides services
B. Makes goods or provides services
A consumer is someone who:
A. Buys goods and services
B. Takes care of pets
A. Buys goods and services
If there is a high supply of umbrellas, it means that:
A. There are a lot of umbrellas to sell
B. The umbrellas are sold out
A. There are a lot of umbrellas to sell
Demand means:
A. How colorful something is
B. How much people want something
B. How much people want something
We can be responsible by:
A. Saving and spending money reasonably
B. Spending all our money on wants
A. Saving and spending money reasonably
A. Backpacks
B. Bicycles
A. Backpacks
A bank is a place where people:
A. Go to buy groceries
B. Save and borrow money
B. Save and borrow money
True or False?
Banks pay people money (called interest) for holding their money.
True
Banks help businesses and people by:
A. Letting them borrow money to pay for things
B. Collecting taxes
A. Letting them borrow money to pay for things
True or False?
The economy always stays the same.
False
Buying and selling goods, usually by exchanging money, is called:
A. Trade
B. Loans
A. Trade
One example of trade is:
A. Buying fruits and vegetables at a market
B. Vacuuming your room
A. Buying fruits and vegetables at a market
International trade is:
A. When you trade snacks with your friend
B. When countries trade with each other
B. When countries trade with each other
True or False?
Logos is the best school EVER!!! Everyone is this class is a ROCKSTAR!!
TRUE!!
Trade helps the economy by:
A. Helping people and businesses earn money.
B. Collecting taxes
A. Helping people and businesses earn money.
A good is scarce when:
A. Many people want it but not enough is available to buy
B. There is a lot of a good available to buy
A. Many people want it but not enough is available to buy