Economics

Which of these will increase profit at a lemonade stand?

• using cheaper lemons

• using more ingredients

• selling during cold weather

• giving glasses away for free

What is a budget?

• a plan for how to use money

• a place where you can save money

• a list of goods you need to buy

• a type of work that earns money

Money that you put in a savings account...

• is used to buy Mrs. Ochoa Kit Kats

• earns interest

• is gone forever

• is put in a piggy bank

How can you earn money?

• by owning your own business

• by providing a service to others

• by making something and selling it

• all of these choices

Which of the following is a way that a business can use its money wisely?

• It can use more expensive resources.

• It can decide not to fix things that are broken.

• It can buy machines to make goods.

• all of these choices

Which of the following is the main goal of a charity?

• work on TV shows

• give money to people in need

• make millions of dollars in profit

• create computer programs to sell

Why do business spend money to invent things?

• to save money for later

• to put money in the bank

• to help fix broken down machines

• to make new and better goods to sell

Oprah Winfrey and Elon Musk are entrepreneurs because

• they watch television all day long

• spend all their time on the Internet

• took risks to start their own businesses

• grew fruits and vegetables to sell

Which of the following people are providing a service?

• Thor grows fruit to sell.

• Mrs. Ochoa teaches a third grade class.

• The Hulk sells stuffed animals.

• Spiderman sells lemonade he makes.

Suppose you are a buyer in a market. What do you want?

• high prices and good quality

• low prices and good quality

• low prices and poor quality

• high prices and poor quality