NEW
Font size
S
M
L
XL
WorksheetsEconomics - Money Matters
Total questions: 16
Worksheet time: 8mins
Name
Class
Date
1.
Anything that everyone accepts as payment
a)
demand deposit
b)
medium of exchange
2.
To exchange one thing of value for another thing of value
a)
barter
b)
credit
3.
Money kept in a checking account
a)
demand deposit
b)
medium of exchange
4.
Means by which people demand their deposits back
a)
checks
b)
credit
5.
The ability to buy something with a promise to pay later
a)
barter
b)
credit
6.
Pick the one thing money does not have to do
a)
Money has to last
b)
Money should be light enough to carry
c)
Money should be in different colors
d)
Money should come in many different values
7.
It is easier to save when we have a system of barter
a)
True
b)
False
8.
It is easy to buy things on credit.
a)
True
b)
False
9.
If the government decided to double the amount of money in use and gave everyone twice as much, everyone would be richer.
a)
True
b)
False
10.
When things are hard to come by, they are considered scarce.
a)
True
b)
False
11.
Which of the following uses an allocation system based on achievement?
a)
Tickets to a sporting event
b)
College admissions
c)
Medical triage
d)
Welfare programs
12.
During the civil emergency, one benefit to the community of allowing the market to determine prices for much needed goods is
a)
additional goods may be rushed to the scene faster.
b)
neighbors will ostracize fellow community members for raising prices during the crisis.
c)
unlicensed contractors will approach homeowners in need of repairs.
d)
officials confiscate good brought in from outside of the community.
13.
The main reason why the current system of kidney allocation is not working is
a)
an excess of donors are prepared to offer organs.
b)
not enough surgeons are available to perform the transplants.
c)
the inability to pay for the organ creates inadequate quantities supplied.
d)
the government frequently changes the allocation method.
14.
When there is not enough of a certain item, it is called
a)
plenty
b)
supply
c)
demand
d)
scarcity
15.
If there is something for which people want more, what frequently happens in an open market?
a)
Prices go up
b)
Prices go down
c)
Prices stay the same
16.
When there is not enough of something that people need, such as food or water, what word describes what the government might do in order for as many people as possible to get what they need?
a)
gouging
b)
allocation
c)
demand
Reset
