S.S. CUA 5 Review

Read the sentence: Most people work to earn money. What does the word "earn" mean?

• to be paid for work

• to sell something

• to spend money

• to donate

Henry Ford came up with the idea of _____.

• lowering prices

• the assembly line

• creating a new way to ship goods

• buying supplies at a cheaper price

What is scarcity? Pick TWO.

• When prices of goods increase (go up).

• When there is more of something than people need or want.

• It is not having enough of something people want or need.

• When prices of goods decrease (go down).

Which of the following scenarios will result in scarcity?

• Juan's orange tree is producing a large harvest.

• A drought has damaged a large amount of crops.

• There is a lot of Easter candy left over and Easter is over.

Scarcity is the same as _____.

• providing a service

• not having enough

• selling something

• too many leftovers

Alamo Elementary is asking for book donations. Donating means to ______.

• borrow

• sell

• buy

• give

Mariana has a monthly budget (plan) where she sets money aside for needs and wants. She saves $100 each month. How much money will Mariana save in 3 months?

• $100

• $200

• $300

• $400

People spend money on things they need and want. What is an example of a need?

• buying food to make dinner

• buying a new toy

• buying 2 bags of candy

• buying the the newest iPhone

Leticia has a monthly budget (plan):

$40 for lunch

$10 for snacks

$10 for donations

$20 for savings

How does Leticia spend most of her money?

• in food items

• in donations

• in savings

• in toys

People pay for the things they need and want by ____.

• none of these

• borrowing money

• donating items

• working and earning money