6 Weeks Review

If a store manager has to lower the price of a product, what will happen to his profits? (a)  

• They will increase
• they will decrease
• they will stay the same

Raul made some lemonade. He sold it at a lawn sale. He received $4.00. How would you describe what Raul has done?

• consuming

• volunteering

• earning

• spending

Which reason best completes the web?

• earning

• donating

• saving

• spending

Adults are responsible for earning an income, paying bills, and budgeting their money. What are three examples of expenses that you will need to plan to pay each month? Select three correct answers.

• cell phones

• groceries

• mortgage or rental

• clothing

• electric

How can someone save money?

Select TWO correct answers.

• Dom buys a store brand can of beans instead of the name brand because they are cheaper.

• Grace buys two pairs of identical jeans and pays full price for the jeans.

• Jaylan forgets the 20% coupon off on a video game at home and decides to buy the game anyway.

• Mrs. Stevens uses crayons and pencils from last year.

• Claire puts all her money in the bank to pay bills, buy groceries, and eat at McDonald's.

Read the sentences below. Then answer the question that follows.

There is a freeze that ruins half of the oranges in the United States. Farmers can sell only about half as many oranges as they usually do at a higher rate.

This an example of –

• services

• resources

• scarcity

• demand

Families must budget their money. They earn it, then spend some of it on ____​ (a)   __________ like groceries.

What BEST completes the sentence above?

• goods
• profit
• services
• savings

If a man buys a pair of shoes for $15.00 and sells them for $20.00 he will make a —

• profit

• service

• donation

taking your pet to the veterinarian for their annual check-up and vaccines (a)  

placing money in a retirement account (b)  

making a handmade gift for a friend's birthday party (c)  

depositing money in a piggy bank (d)  

• Spending Money
• Saving Money

A store is having trouble selling televisions because people have less money than they had before. In order to sell more televisions, the store should–

• make more television

• make better television

• sell two kinds of televisions

• lower the price of the televisions