Personal Finance- Review

Personal Finance- Review

5th Grade

16 Qs

quiz-placeholder

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Personal Finance- Review

Personal Finance- Review

Assessment

Quiz

Social Studies

5th Grade

Practice Problem

Medium

Created by

Rosalynn Daubenmire

Used 47+ times

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do households get in return for selling their labor to businesses?

services

free things

income

loans

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Households are made up of people who are

goods

services

resources

taxes

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following describes the business sector of the US economy?

produces goods and provides services

supplies labor to resource markets

creates wants and needs

financed by the government

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following describes the banks sector of the US economy?

collects taxes from households and businesses

made up of people who are resources and consumers

produces goods and provides services

provides checking accounts, savings accounts, and loans

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a benefit of having a savings account?

to use the money to pay monthly bills

to earn interest from your money

to make sure your taxes are lower on the deposit

so the bank has enough money

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do banks loan money to households and businesses?

the loans are used to by goods and services

banks are publicly funded and provide a public service

because the government will pay backs for providing loans

to earn a profit by charging interest on the loan

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do households and businesses support the government economically?

providing loans for the government

perform services for the government

pay taxes to the government

purchase services from the government

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