SS Unit 7 Review

Some students baked cookies for the school bake sale fundraiser. This is an example of —

• spending

• donating

• consuming

Many people earn money working at a job. Another way to earn money is by —

• keeping money in a savings account

• buying new things at the store

• volunteering for a charity group

A popular book arrived in stores this morning. The books sold so fast that many people did not get to buy one. More copies are going to arrive in a few days. If there are still not enough books what is likely to happen?

• People will not want to buy the book.

• The price of the books could go up.

• The cost to make the books could increase.

If the demand for a product is high, what will the seller most likely do?

• Lower the price

• Raise the price

• Keep the price the same

There were two grocery stores in a small town. One grocery store closed. What will most likely happen to the price of groceries in the town?

• They will decrease.

• They will increase.

• They will stay the same.

Look at a Maria’s budget above. How is Maria earning money?

• By providing services for others

• By earning interest on her savings

• By selling goods to her customers

Look at Maria’s budget above. How much money should Maria have for savings?

• $3

• $1

• $2

• $4

Limited resources may cause -

• Consumer

• Trade

• Scarcity

If the demand for a product is low, what will the seller most likely do?

• Lower the price

• Raise the price

• Keep the price the same

There were two grocery stores in a small town. Another grocery store opened. What will most likely happen to the price of groceries in the town?

• They will increase

• They will decrease

• They will stay the same