Economics CUA 5

Read the sentence:

Many people earn money in the service industry.

What is the meaning of the word "earn" in the sentence.

• community service

• selling products

• to be paid for work

• spending money

How do people pay for the things they needs and want?

• by buying groceries online

• by earning money by working

• by adopting a new pet

• by going to school

Study the budget.

How does Claire spend most of her money?

• savings

• food

• clothing

• charity

Read the passage:

The tourism industry has many jobs. Tourists need hotels, restaurants, and activities for their families.

Which statement is supported by the details provided?

• The tourism industry only provides recreation.

• The tourism industry supports all types of workers

• Tourism does not generate much money.

• Tourism is not a service-based industry.

Which sentence is the best example of spending money on a need?

• Juan bought a used baseball glove.

• Jason bought two bags of candy.

• Sierra bought a new video game.

• Sally bought food to make dinner.

Read the passage:

Money, resources, and time can be given to others. By donating these things, you can help others solve community problems.

Which word helps the reader understand the meaning of the word "donating"?

• things

• problems

• resources

• given

Study the budget.

How much money will Claire have saved after three months?

• $80

• $20

• $60

• $30

Read the passage:

Scarcity happens when people want a product or service, but there is not enough for everyone. If a dairy farm does not produce enough milk, stores will not have it to sell.

Which phrase helps the reader understand the meaning of the word scarcity?

• produce

• not enough

• product or service

• to sell

How did Henry Ford change the manufacturing process?

• He bough supplies from the lowest-priced seller.

• He stocked the shelves with low priced goods.

• He created a new way to ship goods.

• He invented the assembly line.

Which of the following would result in scarcity?

• Tiffany's chickens produce dozens of eggs.

• Julissa's orange orchard has a large harvest.

• A small town has five toy stores.

• Drought affects the crops in a region.