Understanding Money and Economy

Understanding Money and Economy

Assessment

Interactive Video

Business, Life Skills

5th - 8th Grade

Hard

Created by

Ethan Morris

FREE Resource

The video tutorial explores the concept of money, its history, and its role in modern society. It begins with a metaphorical introduction using columns, then delves into the history of currency, from ancient times to modern financial systems. The tutorial discusses the importance of saving, budgeting, and understanding taxes. It also covers the impact of inflation on the economy and provides strategies for smart investments, emphasizing the need for money to circulate to maintain economic stability.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step towards becoming wealthy according to the video?

Starting a business

Buying real estate

Investing in stocks

Saving money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was used as money in ancient Rome?

Salt

Copper

Gold

Silver

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term 'salary' originate from?

Salt

Silver

Gold

Copper

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens if too much money is printed without backing?

Recession

Deflation

Stagnation

Inflation

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of a budget?

To avoid taxes

To save money

To plan expenses

To invest wisely

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are taxes used for according to the video?

Funding wars

Supporting the stock market

Paying government salaries

Building bridges and schools

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should you always include in your budget?

A portion for entertainment

A portion for savings

A portion for luxury items

A portion for travel

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