Sellers City Economics Review

What is an item of value a bank can take if a loan is not repaid?

• a. Insured
• b. Collateral
• c. Document
• d. Uninsured
• e. I don't know.

In what do should you keep a record of transactions in your checking account?

• a. Check Log
• b. Deposit Log
• c. Check Register
• d. Balance Sheet
• e. I don't know.

When you borrow money, what is the money that must be paid in addition to the original loan amount called?

• a. Expensive
• b. Cheap
• c. Loan
• d. Interest
• e. I don't know.

Which means to add money to your checking account?

• a. writing a check
• b. deposit
• c. making a withdrawal
• d. I don't know.

Which means to take money out of your checking account? There are two answers.

• a. writing a check
• b. deposit
• c. making a withdrawal
• d. I don't know.

What is the best name for a person who owns their own business?

• a. entrepreneur
• b. expert
• c. enthusiast
• d. customer
• e. I don't know.

What happens to the price when the supply is low and the demand is high?

• a. The price goes down.
• b. The price stays the same.
• c. The price goes up.
• d. The price goes up and then down.
• e. I don't know.

What happens to the price when the supply is high and the demand is low?

• a. The price goes down.
• b. The price stays the same.
• c. The price goes up.
• d. The price goes up and then down.
• e. I don't know.

What is the best name for the act of trading goods without the use of money?

• a. Swapping
• b. Hand Off
• c. Stand Off
• d. Bartering
• e. I don't know.

What is the name of the bank where banks store their money?

• a. Federal Reserve Bank
• b. NYSE
• c. Local Bank
• d. National Bank
• e. I don't know.