Economics for Kids

Malawi's economy relies on farming and tourism. What does the term "economy" refer to?

• The process of cooking and preparing meals

• A system of managing the resources (production or goods and services) of a community or country

• The study of animals and plants and how they live

What does the term 'economy' refer to in the context of a country?

• A system of managing resources, production, and services

• A type of government

• A style of art

• A form of communication

Which of the following is a synonym for 'economics'?

• Biology

• Finance

• Geography

• History

In the sentence 'The economy is growing,' what part of speech is the word 'growing'?

• Noun

• Adjective

• Verb

• Adverb

What is the main idea of a text that explains how children can save money?

• The importance of spending money

• How to save money

• Different types of banks

• The history of money

Which sentence uses the word 'economical' correctly?

• She is very economical with her words.

• The economical car uses a lot of fuel.

• He is economical in his spending habits.

• The economical book was very expensive.

What does the word 'budget' mean in the context of personal finance?

• A plan for spending money

• A type of currency

• A large amount of money

• A financial institution

Choose the correct sentence:

• Economics are a difficult subject.

• Economics is a difficult subject.

• Economics am a difficult subject.

• Economics be a difficult subject.

What is the opposite of 'profit'?

• Gain

• Loss

• Revenue

• Income

In the context of economics, what does 'supply' refer to?

• The amount of goods available

• The demand for goods

• The price of goods

• The quality of goods