Personal Budgeting and Functions of the US Economy

Personal Budgeting and Functions of the US Economy

5th Grade

11 Qs

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Personal Budgeting and Functions of the US Economy

Personal Budgeting and Functions of the US Economy

Assessment

Quiz

Social Studies

5th Grade

Practice Problem

Medium

Created by

Elizabeth Sikes

Used 43+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

When a person makes a plan on when to save and spend their money, they are making a....?

Economy

Personal Budget

Market

Competition

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Spending money the right way takes knowledge and practice. What is the most likely reason that people comparison shop?

To get the best deal

To pay more for what they buy

To pay the same as other people

To view other stores

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is the most important role for the government in the US economy?

To pay taxes

To tell businesses how to spend their money

To collect taxes

to control how people spend money

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following is NOT a function of the private businesses in the economy?

To provide goods for people to buy

To provide jobs for people

To help people open up savings accounts for their money

To pay taxes to the government

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Why does the government tax people?

Taxes pay for government programs such as schools and the military

Taxes allow businesses to make more money

So that no one can get too rich

The government does not tax people

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following is part of the government's role in the economy?

Providing stocks for people to invest in

Provide loans to people who want to buy homes

Give interest to people who put their money into savings accounts

Build roads, schools, hospitals, etc...

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following is NOT a role that individuals play in the economy?

Working to recieve a pay check

Starting businesses

Buying food and clothing

Taxing their fellow citizens

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