Economics

What is income?

• money received from work

• a type of food

• a kind of game

• a place to live

Jen needs an income to buy a new house. What should Jen do in order to buy a new house with her own income?

• ask her parents to buy it

• borrow it from a family member

• ask the tooth fairy

• get a job and save her money

Why do people have jobs?

• to decide what they like to do

• to keep themselves busy

• to use resources they find

• to earn money to buy goods & services

Someone who makes or grows a good or provides a service is a ___.

• service worker

• trader

• producer

• consumer

What natural resource is used to make desks?

• trees

• air

• rocks

• water

Bella is buying a drink at the grocery store. Is she a producer or consumer?

• producer

• consumer

Which of the following best describes the relationship between working and income?

• work and income are the same thing

• work does not affect income

• income is only for spending on toys

• income is earned by doing work

Which of the following is an example of how to earn income?

• picking up trash

• laying by the pool

• sleeping

• listening to music

How can a person earn an income?

• napping

• playing with friends

• working at a job

• reading a book

When you do chores at home then use the money you earned to buy a car, you are

• a producer

• a consumer

• a producer and consumer

• neither a producer or consumer