Young AmeriTowne Pre/Post Assessment

The study of the waves people produce, distribute, and consume goods and services is the definition of:

• Entrepeneur

• Economics

• Investment

• Resource

Which if the following us not an example of the flow of money in an economic cycle?

• A business sells a product to a consumer

• A business pays its employees for their work

• A company goes out of business

• A consumer buys goods from a business

Which business provides goods to consumers?

• Doctor

• Computer technician

• Grocery store

• Hair stylist

If bad weather causes most of the orange trees to die, the price of orange juice will probably rise.

• True

• False

For a business to be successful, it is important to know ...

• How much consumers are willing to save

• People with a lot of money

• Which goods were popular a long time ago

• What consumers want to buy and how much they are willing to spend

Which of the following is an example of a service?

• A jewelry store that sells a bracelet

• A bank cashes a check for an account holder

• A clothing store sells a t-shirt

• A bookstore sells a book

What are the three branches of government?

• Economics, administration, and politics

• Executive, legislative, and judicial

• Congressional, banking, and legal

• Producer, consumer, and entrepeneur

Your check register shows you have a checking account balance of $5.00. You have $2.00 in cash. You may...

• Use your debit card in the Container Shop for $7.00 to buy a sticky hand.

• Use your debit card in the snack shop for a drink and snack for $6.00.

• Pay $3.00 cash to buy a gift box.

• Use your debit card for $5.00 to the Sign and Print Shop for a bottle of magic ink.

The prices for products in Young AmeriTowne are determined by

• Salaries

• Supply and demand for items

• Cost of supplies

• Cost of advertising

Which business made a profit?

• Snack Shop: expenses -- $280, sold $280 worth of food.

• Sign and Print: expenses -- $315, sold $345 worth of signs and products.

• TV station: expenses -- $253, sold $227 worth of advertising

• Bank: expenses -- $476, made $467 in interest