October S.S DA Review

Who makes up a household in our market economy?

• banks

• people

• businesses

• governments

What do people create to help them make smart economic decisions?

• a diary

• a loan application

• a personal budget

• a private business

Why do households “sell their labor” to businesses?

• to receive income

• to receive tax money

• to receive small business loans

• to receive government services

Which of the following BEST describes what Mary Jo should expect to happen as an entrepreneur?

• She should expect to make a lot of money without doing a lot of work.

• She should expect to work long hours to build her new business.

• She should expect to have a lot of extra free time.

• She should expect to have to do very little work.

Which of the following might be one goal of Mary Jo’s as she opens her own store?

• to make a profit

• to pay a lot of taxes

• to take goods from households

• to give away her services for free

Which of the following BEST describes private businesses in the U.S. economy?

• Private businesses sell their labor to banks.

• Private businesses create wants and needs.

• Private businesses produce goods and services.

• Private businesses are owned by the government.

What is the main way households and private businesses support the government?

• They pay taxes to the government.

• They provide loans to the government.

• They perform services for the government.

• They purchase services from the government.

A _________ account lets people save money safely and earn interest while the bank has the money.

• checking account

• savings account

• interest

• loan

The government uses taxes to provide ___________ services to citizens.

• bank

• public

• private

• business

Why do private businesses sell goods and services?

• to make a profit

• to donate money

• to close businesses

• to build schools and roads