Personal Finance Review

Which is a characteristic of a household in the economy? (SS5E2a)

• consumer
• house and its occupants
• provider of labor
• all of the above

How do households create demand in the economy? (SS5E2a)

• trial and error
• buying what is available
• individual preferences
• the government sets it

What do households offer to the economy? (SS5E2a)

• labor
• factories
• goods
• railroads

What do households trade for goods? (SS5E2a)

• food
• money
• goods
• music

A household is made up of ___________ who purchases goods. (SS5E2a)

• producers
• consumers
• demands
• supplies

The economy is driven by supply and ____________. (SS5E2a)

• producers
• consumers
• demand
• households

Which of the following is an institution that receives deposits and makes loans? (SS5E2c)

• loan
• household
• bank
• government

How do banks make a profit? (SS5E2c)

• interest
• customer service
• selling groceries
• buying cars and houses

Banks provide which services to the public? (SS5E2c)

• checking accounts
• savings accounts
• loans
• all of the above

Which is the best description of a loan? (SS5E2c)

• borrowing money without repaying it
• borrowing money and keeping it
• borrowing money and repaying it with interest
• none of the above