Worksheets5th Grade Economics
Total questions: 15
Worksheet time: 8mins
Name
Class
Date
1.
Which sector of the American economy is this describing?
People earning income by selling their labor
People earning income by selling their labor
a)
businesses
b)
households
c)
banks
d)
government
2.
Which sector of the American economy is this describing?
Provides checking accounts
Provides checking accounts
a)
households
b)
banks
c)
businesses
d)
government
3.
Which sector of the American economy is this describing?
Collects taxes from the people
Collects taxes from the people
a)
households
b)
banks
c)
government
d)
businesses
4.
Which sector of the American economy is this describing?
Provides public services such as education, law enforcement, and national defense (military)
Provides public services such as education, law enforcement, and national defense (military)
a)
banks
b)
households
c)
businesses
d)
government
5.
Which sector of the American economy is this describing?
Consumes (buys) goods such as books, toys, games, and sports equipment
Consumes (buys) goods such as books, toys, games, and sports equipment
a)
government
b)
businesses
c)
households
d)
banks
6.
Which sector of the American economy is this describing?
Provides savings accounts
Provides savings accounts
a)
households
b)
banks
c)
government
d)
businesses
7.
Which sector of the American economy is this describing?
Manufactures and sells goods such as automobiles, computers, school supplies, and clothing
Manufactures and sells goods such as automobiles, computers, school supplies, and clothing
a)
households
b)
businesses
c)
government
d)
banks
8.
Which sector of the American economy is this describing?
Consumes (buys) services such as child care, cell phone service, dental care, and haircuts
Consumes (buys) services such as child care, cell phone service, dental care, and haircuts
a)
households
b)
businesses
c)
banks
d)
government
9.
Which sector of the American economy is this describing?
Loans money to customers
Loans money to customers
a)
households
b)
banks
c)
government
d)
businesses
10.
Which sector of the American economy is this describing?
Produce and sell services such as photography, lawn care, manicures & pedicures, and piano lessons
Produce and sell services such as photography, lawn care, manicures & pedicures, and piano lessons
a)
households
b)
banks
c)
government
d)
businesses
11.
Which sector of the American economy is this describing?
Provides public goods such as highways, parks, and schools
Provides public goods such as highways, parks, and schools
a)
households
b)
banks
c)
government
d)
businesses
12.
_________________ take risks to develop new goods and services to start a business.
a)
Stock Markets
b)
Governments
c)
Entrepreneurs
d)
Households
13.
The amount of money exchanged for a good or service is the _________________.
a)
price
b)
sale
c)
discount
d)
salary
14.
The United States has a market economy. This means that ___________ own the businesses. It also means that people can choose what they want to buy.
a)
government
b)
banks
c)
citizens
d)
other countries
15.
______________ is the battle for your business between sellers of a particular good or service. For instance, if Staples sells markers for $2.49, but Walmart sells them for $.97, this is ______________. This helps to keep prices low.
a)
Competition
b)
Market
c)
Entrepreneur
d)
Trade
100 %
