Social Studies-Market Systems Quiz

What is a budget?

• A budget is a type of fruit.
• A budget is a type of car.
• A budget is a financial plan.
• A budget is a type of animal.

Why is a budget helpful?

• A budget is only useful for wealthy individuals
• A budget restricts financial freedom
• A budget is hard to do and does not help save money.

• A budget is helpful for planning and tracking finances, setting goals, prioritizing spending, and avoiding overspending.

What is a consumer?

• A government

• A software program

• A person who purchases goods or services

• A type of financial institution

What is a good?

• A good is doing something nice for someone.

• A good is a type of food.
• A good is a type of service.
• A good is an object you can touch and take home.

What is a service?

• A service is a time of the year.

• A service is a car.

• A service is a musical instrument.
• A service is something you can pay a person or a business to do.

Is a video game a good?

• No
• Yes

Is getting your haircut a service?

• Yes

• No

Is a pair of shoes a good?

• Yes

• No

Is a person delivering pizza a service?

• Yes

• No

Why is it important to save your money?

• Saving money is unnecessary and wasteful
• It is better to spend all your money immediately
• It is important to save money to be able to buy things you want

• Saving money does not help you in the future.