Chapter 6 Lesson 5 Economy

Which evidence from the text best supports the inference that going to school can help students prepare for future jobs? Choose two sentences.

• You have learned that people get paid an income for the work they do.

• However, we don’t always get paid for the jobs we do.

• Your job right now is to go to school.

• The subjects you study in school help you ‘earn’ or gain knowledge.

• All the things you learn help you build your human capital.

What does the word benefit mean?

• something that helps a person

• something that a person needs

• something that harms a person

• something that a person earns

Look at page 298 in your Research Companion. Which statement best explains what Jamie would give up if he purchased the bike?

• He could buy both a tool to play games and ride to school.

• He would not have a tool that could save him time with chores.

• He would not have a tool that he could use for school and for fun.

• He would not have a tool that would help him travel from place to place.

Which is an example of a want?

• Rent for an apartment

• A vacation to the beach

• Groceries used to make lunches and dinner

• Shoes to wear to work or school

Part A: Which statement best explains why it is a good idea to have a budget?

• It helps a person earn more income.

• It helps a person earn more human capital.

• It helps a person choose which bank to use.

• It helps a person decide how to spend money.

Part B: Which evidence from the text best supports the correct response to Part A?

• “Another way to help make buying decisions is to keep a budget.”

• “It shows all the income expected in a week or month.”

• “It also shows all the expenses that must be paid each week or month.”

• “The money left over can be used for anything.”

Which evidence from the text best supports the inference that saving money is a good idea?

• A. “Every buying choice involves a tradeoff.”

• B. “The money left over can be used for anything.”

• C. “What happens if a family has an expense it did not expect?”

• D. “Sometimes a buyer’s decision may be not to spend any money at all.”

What is budgeting ?

• Choices you make.

• In short, a budget is a A plan to manage money effectively.

• The cost of living

• A plan to spend and use your credit card and not go into debt.

what is the meaning of saving?

• The process of putting money into a property

• The process of putting money to get the profit

• The process of saving money through a bank

• The process of putting money into a commercial venture