To make something with machines
A. Raw Material
B. Capital Resources
C. Producer
D. Manufacture
D. Manufacture
100
A place where coins are made
A. Mint
B. Interest
C. Deposit
D. Savings
A. Mint
100
What might a business do if it wanted to sell more of its product?
A. Create advertisements
B. Charge high prices
C. Hire entrepreneurs
D. Borrow money from a bank
A. Create advertisements
100
People invest their money _______________.
A. To share it with people in need.
B. To obtain new goods from a bank.
C. To earn interest.
D. To make it grow in value.
D. To make it grow in value
100
Why is it a good idea to put your savings in a bank?
When you put your savings in a bank, your money earns interest, or more money. The bank will keep your money safe.
200
A natural resource that can be used to make a product
A. Human Resources
B. Raw Material
C. Capital Resources
D. Income
B. Raw Material
200
To bring in products and resources from other countries and sell them
A. Supply
B. Export
C. Import
D. Barter
C. Import
200
Why did most people start to use money to buy things instead of bartering for them?
A. When people used money, they could buy goods and pay for them later.
B. Bartering was not possible if no one wanted to trade for a person's product or service.
C. Using money made goods and services cost less.
D. The United States mint supported the use of coins and bills.
B. Bartering was not possible if no one wanted to trade for a person's product or service
200
Entrepreneurs help the economy. They provide __________ and create jobs for workers.
A. Capital
B. Goods
C. Demand
D. Save
B. Goods
200
What are two things people do with their income?
People buy things they need, buy things they want, give money to groups that help people in the community and around the world, save money, and make investments with their income.
300
The tools and buildings a business uses
A. Capital Resources
B. Human Resources
C. Producer
D. Scarcity
A. Capital Resources
300
A person that buys the goods that people create
A. Barterers
B. Producers
C. Manufacturers
D. Consumers
D. Consumers
300
What do beads and shells have in common?
A. They were forms of money.
B. They are products that might be sold in a store.
C. They are important items that the United States exports.
D. They are things that a person might list on a budget.
A. They were forms of money.
300
When a product becomes scarce, there is usually more _________ than supply. This makes the prices go up.
A. Plan
B. Capital
C. Goods
D. Demand
D. Demand
300
What are some of the good things about living in a free market economy?
People have choices among many different goods and services. People get good prices for what they buy because businesses must compete. People have the chance to start their own businesses.
400
The contest among businesses to sell the most goods or services
A. Interest
B. Competition
C. Profit
D. International Trade
B. Competition
400
Freedom to make and sell any product or service that is allowed by law
A. Free Market
B. Budget
C. Interdependence
D. Capital Resources
A. Free Market
400
What is one of the most important goals of a business?
A. Giving consumers free products
B. Creating a low demand for goods and services
C. Earning a profit after paying all business costs
D. Trading with other companies
C. Earning a profit after paying all business costs
400
Families make a choice about how they will earn, spend, and _________ their money.
A. Save
B. Plan
C. Supply
D. Internet
A. Save
400
Do you think competition is helpful for a business? Why or why not?
Competition is helpful because when businesses compete, they work hard to keep prices low and make the consumer happy so they can sell more goods.
500
The supply of a product is not enough to meet the demand for it
A. Advertisement
B. Import
C. Scarcity
D. Barter
C. Scarcity
500
Producers and consumers rely on each other for the products and resources they need
A. Invest
B. Competition
C. Interdependence
D. Free Market
C. Interdependence
500
You want to buy a new video game but cannot afford it. What should you do to reach your economic goal?
A. Borrow money from the bank
B. Purchase the game on the Internet
C. Save your money
D. Tell your friend to give you the game
C. Save your money
500
To reach their economic goals, people make a budget. This is a/an ________ for saving and spending money.
A. Capital
B. Save
C. Plan
D. Goods
C. Plan
500
Explain the difference between exporting and importing goods.
Exporting goods means to send products and resources to other countries to sell. Importing goods means to bring in products and resources from other countries and sell them.