Working to Meet Our Needs (Chapter Test)

What is savings?

• a. to keep your money to use later

• b. money that you do not spend right away

• c. money that you spend right away

______________ means to keep something to use later.

• Save

• Savings

• Spend

Which picture shows a need?

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If you do not have any of these things, and you only have enough money for one, which is the BEST choice?

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Look at the chart. If you choose the trip to the park, what is the opportunity cost?

• A.You can play outside.

• B.You can ride your bike.

• C.You can use the game for a long time.

• D.You spend $10 on the game.

Look at the chart. Which would be a benefit if you buy the game?

• a. You can play outside.

• b. You can ride your bike.

• c. You can use the game for a long time.

• d. You spend $10 on the game.

Someone who makes or grows the goods that consumers want is .

• a. an income

• b. a service worker

• c. a producer

• d. a resource

Use the flow chart to answer question 8.

Look at the flow chart. What happens in the third step?

• a. The woman makes lemonade.

• b. The woman sells the lemonade to a consumer.

• c. The woman picks lemons.

• d. The woman drinks the lemonade.

Which picture shows a government worker?

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Tim has a blue hat. Matt has a red hat. Matt wants a blue hat. Tim wants a red hat. They don’t have any money. What should Matt and Tim do?

• a. produce hats

• b. barter hats

• c. buy more hats

• d. sell their hats