WorksheetsBanks in the Economy
Total questions: 15
Worksheet time: 30mins
What is the purpose of a bank? (You can choose more than one response on this one!)
hold your money
help you borrow money
pay you for using your money to help others
help you save your money
What is the first step in opening a savings account?
Fill out an order form
Ask the teller for your money.
Open an account with your parent.
Fill out a withdrawal slip.
After you have a savings account, what is the first step in making a withdrawal?
Demand they give you all of your money.
Fill out a withdrawal slip, and sign it with your parent.
Fill out a deposit slip.
Ask your friends if you can borrow money.
When banking, what does "interest" mean?
money paid for the use of borrowing that money
something grabs your attention
money a business makes after it pays for the cost of operating
money withdrawn from your account
What is "profit" for a business?
money paid for the use of borrowing that money
the name of a teacher at Westgate
the money a business earns after it pays the costs of operating
opening an account at the bank
At a bank, what are "reserves?"
calling ahead to get a teller to help you
saving a seat for someone at the bank
a part of the deposit that a bank must keep and NOT loan out to customers
a fruit jam or jelly you can put on bread
Why are reserves important at a bank?
so the bank has enough money to pay out when customers want to withdrawal their money.
so the bank looks important to the other banks in the neighborhood
so you can deposit money and the bank can loan out your money to other customers
so your toast or bread tastes better
What are Federal Reserve Banks?
banks that make reservations for restaurants in your area
places that print dollars
places that make coins
banks that store money so that they can ship it to other banks that need it when they are running low
Where is paper money printed?
Dunder Mifflin Paper Company
U.S. Mint
Bureau of Engraving and Printing
Federal Express
Where are coins made?
U.S. Mint
Jewelry stores
Bureau of Engraving and Printing
Bureau of Money Making
How can you make money on your savings account?
You draw pictures of money and deposit it
Your money just grows in the bank on its own
The bank pays you to thank you for your deposit
The bank pays you to use some of your money to loan to others
How does the bank make extra money on loans?
The bank charges people for borrowing money, called "interest."
The bank takes money from your account.
The bank asks other banks for donations.
The bank just gets more money printed.
A business earned 2,000 dollars after it paid all of its bills for running the company. This $2,000 is called,
lucky
unfortunate
profit
interest
When a bank needs to pay its customers their money, it can use its,
reserves
interest
profit
magic wand
What is the name of the bank that watches over all the other banks?
Daddy Bank
The Federal Reserve Bank (The Fed)
The Presidential Bank
The USA Bank
