Economics and banking

A checking account is

• for everyday items like paychecks and bills

• for saving money

• for earning lots of interest

• not at a bank

A savings account

• is used for saving money

• earns interest

• can have limits on taking out money

• all of these

Scarcity means

• that someone is scared

• a small supply of something

• a city on a hill

• a large supply of something

If there is a large supply and a low demand, then the price

• goes up

• goes down

• stays the same

• is $4

Another word for labor is

• dolphin

• demand

• work

• supply

Economics has to do with

• a change in the weather

• dolphins

• the internet

• the buying and selling of goods

Which is an example of a service

• getting a haircut

• eating dinner at a restaurant

• getting your nails done

• all of these

Which of these is an example of a good

• new Nike shoes

• a new skin on Fortnight

• buying food at the grocery store

• all of these

What is a budget

• the supply of swimsuits

• an unlimited amount of money

• limited amount of money to be used for expenses

• a dolphin

What is the difference between a "need" and a "want"

• needs are things like food, that are needed for survival and wants would be nice to have, but not necessary to live

• food is a want and new shoes are a need

• you have to spend money on wants to survive

• it is more important to spend money on wants