Economics Summative Test

What is it called when people figure out how much money they have coming in and how much they have to spend money on?

• their income

• their budget

• their vacation

Why is it important to save money?

When people do a job or service for money, they are:

• saving money

• earning an income

• paying money

How can you save money?

Tell a good thing about saving money.

What is something not so good about saving money?

Money the bank pays you for keeping your money at their bank:

• profit

• savings

• interest

Someone who runs and owns the company is called

• employee

• employer

• bossman

An activity in which workers make or sell goods for money is called

• an entreprenuer

• a business

• a corporation

A person who starts a business is

• an entreprenuer

• inventor

• employee