OLS 5th ELA 12.5 Economy Words

Read the paragraph.

My sister Grace and I like to make bead bracelets. We always receive compliments on the bracelets we make, so we decided to make 20 bracelets to sell for $3 each. People were so eager to buy the bracelets that our supply quickly ran out. In fact, demand for the bracelets was so great that we couldn’t make them fast enough!

What is the most likely meaning of supply?

• the amount of product available for purchase

• the cost of one product compared to another

• the price at which a product can be sold

• the materials necessary to make a product

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Read the paragraph.

After a severe storm or a sudden drop in temperature, a trip to the grocery store can become much more expensive. Bad weather often damages food crops, like fruits, vegetables, and grains. Then, there is not enough of these products to go around. This causes food cost inflation that may be temporary or long term.

Choose the best definition of inflation.

• a rise in prices

• a decrease in value

• a change in quantity

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

Countries with plentiful _____ are often prosperous because they have the materials to produce their own products

• advanced technology
• skilled labor force
• natural resources
• manufacturing plants

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

Choose the sentence that best explains the meaning of budget.

My goal of buying a new bike was going nowhere. Even though I was earning money walking dogs and raking leaves, I could never figure out where it all went. My mom suggested that I start keeping a record of the money I made and the money I spent. With that information, I created a budget. This plan allowed me to buy the things I needed, but also helped keep me on track to save money. And my new bike is awesome.

• My goal of buying a new bike was going nowhere.

• Even though I was earning money walking dogs and raking leaves, I could never figure out where it all went.

• This plan allowed me to buy the things I needed, but also helped keep me on track to save money.

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

Jamal was excited. His dad was going to help him open his first savings account at the bank. Jamal planned to make a weekly ____ of the money he would earn mowing lawns in his neighborhood.  

• deposit
• investment
• withdrawal

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4