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WorksheetsSavings and Debt
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
Debt is?
a)
liabilities
b)
savings
c)
net worth
d)
a gift
2.
How do you determine your liabilities?
a)
count your cash
b)
check your bank balance
c)
look at your pay stub
d)
add up all the debt you owe
3.
What is savings?
a)
initial deposit
b)
interest rate
c)
money to put aside for later use
d)
money that you spend
4.
What is the difference between a credit and debit card?
a)
a credit card can be used to borrow money or make purchases, a debit card uses your own money.
b)
you can borrow money with both
c)
credit card is connected to your personal bank account and a debit card is used for borrowing money
d)
with a debit card you have to pay the money back
5.
What does ROR mean?
a)
R&R
b)
Return of rate
c)
Rate of return
d)
Run over rise
6.
What is economics?
a)
the way nations make decisions on how to use their resources
b)
the study of decisions that go into making distributing and using goods and services
c)
the study of ecological system
d)
your past record of making payments on your liabilities
7.
Money deemed to be legal tender is called?
a)
Ford money
b)
Porsche money
c)
Fiat money
d)
Cadillac money
8.
Factors of production include?
a)
Land, capital, entrepreneur, labor
b)
Money, Land, Factors, Rules
c)
Good looks, Charm, Manners, Labor
d)
Logo, Theme, Product, Ideas
9.
Opportunity cost is?
a)
What you get to get something
b)
What your neighbor gives you
c)
What you find is ironic
d)
What you give up to get something else
10.
The United States operates under which economic system?
a)
Traditional
b)
Market
c)
Command
d)
Theft
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