Biztown Unit 1 Quiz

How a country makes, sells, and manages goods and services is called _____________.

• government

• economy

• democracy

• taxes

United States citizens have the right to own _________________ property including money, a vehicle, a farm, or a home.

• private

• public

• institutional

• financial

Managing money properly and making wise money choices is the ___________________ of every citizen.

• procedure

• right

• responsibility

• law

Money that people earn by working is called _________________.

• deposit

• insurance

• taxes

• income

Financial institutions like banks and credit unions help citizens with ____________ cash and checks into their accounts and keep their _________________ safe.

• depositing, money

• cashing, tax forms

• writing, money

• earning, savings

One way to be responsible with money is to put aside a portion or percentage in a ________________ account before spending it all. This is called PYF (pay yourself first).

• savings

• tax

• income

• deposit

In the "rule of law," everyone is held accountable and is responsible for obeying _____________.

• orders

• laws

• police

• banks

_____________ is a word that means we can't have everything we want and need. We as consumers have to make choices.

What card allows you to spend your money or withdraw it electronically out of your bank account?

What kind of card allows a person to "charge" a purchase? It is basically like

getting a loan that will have to be paid back with interest.