Economics Quiz

What is the study of how we use limited resources called?

• Sociology

• Psychology

• Economics

• Anthropology

Which of the following is NOT one of the three basic economic questions?

• What to produce

• How to produce

• For whom to produce

• When to produce

What is money according to the provided learning material?

• A system of barter

• Currency that is issued by the government and used to pay for goods and services

• A type of precious metal

• A form of credit offered by financial institutions

What does money make easier according to the provided learning material?

• Traveling abroad

• Buying and selling

• Communication

• Learning new languages

How many types of money are listed in the provided learning material?

• Two

• Three

• Four

• Five

Which of the following is NOT listed as a type of money in the provided learning material?

• Cash

• Coins

• Debit Cards

• Credit Cards

Why is paper money accepted according to the provided learning material?

• Because it is made of valuable materials

• Because it is unlimited in supply

• Because people have faith in the US Government

• Because it can be exchanged for gold at the bank

How many types of banks are mentioned in the material?

• One

• Two

• Three

• Four

What do you need to qualify for in order to use Credit Unions?

• A bank account

• A loan

• Membership

• Interest

Which of the following is NOT one of the three main jobs of banks and credit unions?

• Receive deposits

• Encourage saving by paying interest

• Make loans so people can start business

• Print new money