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Consumer Choices

Total questions: 50

Worksheet time: 34mins

Name
Class
Date
1.
The making, buying and selling of goods and services
a)
economics
b)
inflation
c)
market
d)
barter
2.
A person who buys goods and services
a)
consumer
b)
entrepreneur
c)
resource
d)
currency
3.
another word for money
a)
barter
b)
economics
c)
currency
d)
price
4.
The using up of a resource
a)
scarcity
b)
supply
c)
services
d)
consumption
5.

is the way a country utilizes the production, distribution, and consumption of goods and services.

a)

system goods

b)

economic system

c)

common core goods

d)

distribution system

6.
A producer?
a)
Eats other plants and animals
b)
Makes its own food
c)
Eats dead plants or animals
d)
Makes toys for kids
7.

a place where goods and services are sold

a)

Marketplace

b)

Wal-Mart

c)

Target

d)

Kroger

8.
What does this curve represent?
a)
demand
b)
supply
c)
equilibrium
d)
shortage
9.
What does this curve represent?
a)
demand
b)
supply
c)
equilibrium
d)
shortage
10.
What does this curve represent?
a)
supply
b)
equilibrium
c)
demand
d)
surplus
11.
How much people want something
a)
supply
b)
demand
12.
Something we pay for that we can touch
a)
goods
b)
services
13.
A general increase in prices
a)
price
b)
inflation
c)
scarcity
d)
demand
14.
Something we pay to use fora certain amount of time
a)
services
b)
goods
15.

what is GDP?

a)

GDP is defined as the market value of all finished goods and services produced in a country during a certain period of time.

b)

a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care

16.

____ is dishonest business practices used by those who are trying to trick or cheat you.

a)

Smart consumer

b)

Smart fraud

c)

Consumer Fraud

d)

Prize fraud

17.

Some items come with a __________ and some do not. If not they are either used and unreturnable.

a)

Return

b)

Warranty

c)

Discount

d)

Repair

18.

A store advertises bargains that do not really exist to lure customers in, in hopes that they will buy more expensive merchandise.

a)

Bait and Switch

b)

Quality of Life

c)

Balance of Trade

d)

Better Business Bureau

19.

This is a portion of the total cost of an item that must be paid at the time of purchases.

a)

full amount

b)

down payment

c)

credit

d)

financing

20.

This is an automatic deposit of net pay to an employee's designated bank account.

a)

Direct deposit

b)

withdrawl

c)

automatic payments

d)

auto deposit

21.
Take out money.
a)
withdraw
b)
deposit
c)
cash
d)
cheque
22.

What are these ?

a)

Bank

b)

Checking

c)

Savings

23.
to put money in the bank​
a)
Deposit
b)
Withdraw
c)
Overdraw
d)
Balance
24.
What does ATM stand for
a)
Automatic Teller Machine
b)
Automatic Token Money
c)
Automatic Teller Money
d)
Automatic Teller Man
25.
Money is withdrawn directly from a checking or savings account.
a)
Debit Card
b)
Credit Card
26.
A PIN (Personal Identification Number) is required to make a purchase.
a)
Debit Card
b)
Credit Card
27.
the illegal use of another person's personal details, for example in order to steal money
a)
authorize
b)
File a complaint
c)
impersonate
d)
Identity theft
28.
the crime of deceiving people in order to gain something such as money or goods 
a)
paranoid
b)
fraud
c)
fake
d)
weary
29.
dishonest and illegal 
a)
fraudulent
b)
astonishing
c)
exposed
d)
purchase
30.
Which is an act of identity theft?
a)
Receiving permission to use a parents’ credit card for school clothes
b)
Wrongfully acquiring and using someone’s personal identification
c)
Taking the identity of another individual as inspiration for a costume
d)
Having the same name as another person
31.
Items you buy without thinking them through.
a)
comparison shopping
b)
consumer shopping
c)
impulse purchases
d)
amount earned
32.
Comparing products, prices, and services to get the most value for the money.
a)
impulse purchases
b)
income
c)
comparison shopping
d)
consumer shopping
33.
A guarantee that a product will work properly for a specific length of time unless misused or mishandled by the consumer.
a)
income
b)
warranty
c)
sales
d)
purchase
34.
This account allows you to pay with checks, instead of cash.
a)
savings account
b)
bank account
c)
checking account
d)
any account
35.
A need can best be describe as ....
a)
Something that a  person buys or sells to another person. 
b)
A necessity to survive like water or shelter.
c)
An item that provides a valuable service like a cell phone.
d)
A necessity to survive like Dr. Pepper and a mansion.
36.
Which of the following can be categorized as a need?
a)
MissMe Jeans
b)
Pants
c)
Cars
d)
Cell Phones
37.
Which of the following can be categorized as a want?
a)
Food
b)
Water
c)
Shelter
d)
Car
38.
a)
need
b)
want
39.
a)
need
b)
want
40.
A student can be found at the mall on the weekends. He/She likes to buy name brand clothing, new watches, and cool electronics. This person has the means to satisfy their ____________.
a)
Needs
b)
Wants
c)
Basic Economic Questions
41.
a)
Need
b)
Want
42.
Starbucks
a)
Needs
b)
Wants
43.
Sleep
a)
Needs
b)
Wants
44.
Cell phone
a)
Needs
b)
Wants
45.
Basic income
a)
Needs
b)
Wants
46.
Social Media
a)
Needs
b)
Wants
47.
Clean Air
a)
Needs
b)
Wants
48.
a)
Need
b)
Want
49.
Goods or services that are not necessary, but that we desire or wish for. Examples: video games, toys
a)
Demand
b)
Needs
c)
Wants
d)
Presents
50.

Is food a want or a need?

a)

Want

b)

Need

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