Economic Terms

Economic Terms

4th - 5th Grade

18 Qs

quiz-placeholder

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Economic Terms

Economic Terms

Assessment

Quiz

History

4th - 5th Grade

Easy

Created by

Pamela Nunn

Used 21+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

Which sector of the economy collects taxes?

Household

Government

Banks

Private Business

2.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

What is an entrepreneur?

A person in a household

A human resource

A person that takes a risk to start a business

A person that pays taxes

3.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

What would be considered to be a price incentive?

A sale on an item

A choice of colors of an item

A new store opening

Giving money to the government

4.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

If you owe someone money, you're _____________

personal budget

loan

in debt

a human resource

5.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

Which of the four major sectors in the US economy provides checking accounts, savings accounts, and loans?

Government

Household

Banks

Private Business

6.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

Walmart and Target want to get the most customers in their store. This is an example of ______________

interest

debt

competition

loan

7.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

You got a loan from the bank to buy a car. You end up paying the bank more than you borrowed because of the ____________ added on by the bank.

income

debt

loan

interest

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