Economics Review

Economics Review

5th Grade

7 Qs

quiz-placeholder

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Economics Review

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Assessment

Quiz

Social Studies

5th Grade

Medium

Created by

Darren Spivey

Used 4+ times

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7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How does a budget help you get things you want?

by spending more

a budget helps us plan ahead and save money for things we want after buying things that we need.

by going to debt

2.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Check all that apply about credit and debt

credit typically comes with a payment plan

credit is a way to borrow money

banks offering credit make money by charging interest

no of the above is true

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

It is better if your income exceeds your expenses.

True

False

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What should you include when creating a personal budget?

snacks

all of your income and all of your expenses

only expenses

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Debt is

money owed to someone else

money given to someone in business

money that you withdraw from the bank

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of these is not one of the four sectors of our economy?

household

government

schools

business

banking

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How are parents most likely able to provide food for their family?

using natural resources

working and using income to buy it

trading with neighbors for food

growing apples in an orchard