Social Studies Week 31

Money

100

The price of a ______ depends on supply and demand.

A. want

B. resource

C. need

D. supply

B.  resource

200

What is the last thing to happen when someone gets a loan?

A. Sign papers that say you will pay it back.

B. Pay off your loan and no longer owe the bank money.

C. Get charged interest on the loan.

D. Decide you want to borrow money.

B. Pay off your loan and no longer owe the bank money.

300

 Which statement describes a person saving their money?

A. using money to pay their bills and to buy things their family needs

B. buying a house or a car for their family

C. putting money into a bank and earning interest

D. going to the bank for a loan

C. putting money into a bank and earning interest

400

8. What lets you buy something now and pay for it later?

A. debit card

B. cash

C. demand

D. credit card

D. Credit card

500

10. When people borrow money from a bank they _____? 

A. never have to pay it back

B. pay NO interest

C. have to sign papers saying they will pay the money back

D. get free money

C. have to sign papers saying they will pay the money back

Markets/Goods

100

 Markets help people do what? 

1 point

A. get free money

B. get the things they want and need

C. get free food

D. get only the things they want

B. get the things they want and need 

200

The United States sends goods to other _____, too.

1 point

A. countries

B. states

C. resources

D. cities

B. Countries

300

5. The United States does not produce everything our citizens ______.

1 point

A. only need

B. only want

C. demand

D. need and want

D. Need and want

400

There are a lot of apples and not many people want them. Which of these statements supports this comment?

A. The supply is low and the demand is high, so the price goes up.

B. The supply is low and the demand is high, so the price goes down.

C. The supply is high and the demand is low, so the price goes down.

D. The supply is high and the demand is low, so the price goes up.

C. The supply is high and the demand is low, so the price goes down.

500

 There are only a few diamonds, but a lot of people want to buy them. What will this cause?

A. The supply is low and the demand is high, so the price goes up.

B. The supply is low and the demand is high, so the price goes down.

C. The supply is high and the demand is low, so the price goes down.

D. The supply is high and the demand is low, so the price goes up.

A. The supply is low and the demand is high, so the price goes up.

Vocabulary

100

Many children get an ____________ from

their parents.

Allowance

200

People around the world __________ on

each other.

A. Credit

B. Depend

C. Interest

B. Depend

300

____________ are safe places to keep

your money.

Banks

400

The amount of a resource is the _______

Supply

500

How much people want a resource is called _______

Demand