Econ Quiz

What is trade?

• Buying toys only

• Exchanging goods and services

• Sleeping

• Eating

What does a producer do?

• Makes or sells goods and services

• Only buys products

• Watches TV

• Plays games

Who is a consumer?

• Someone who makes products

• Someone who eats only vegetables

• Someone who buys or uses goods and services

• Someone who sells products

What is income?

• Money you spend

• Money you save

• Money you earn

• Money you borrow

Why is saving money important?

• To buy candies

• To have money for future needs

• To throw it away

• To forget about it

What does spending mean?

• Saving money

• Lending money

• Using money to buy things

• Eating

What is a business?

• A place where people sleep

• A game

• An activity that earns money by selling goods or services

• A type of food

What is barter?

• Trading goods without using money

• Buying goods with money

• Playing video games

• Eating snacks

Why do people trade?

• To get things they need or want

• To lose all their goods

• For fun only

• To collect stamps

What can you do to save money?

• Spend it all at once

• Give it away

• Put it in a piggy bank

• Eat it