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WorksheetsEarning, Saving, Spending, Donating
Total questions: 23
Worksheet time: 14mins
Name
Class
Date
1.
a plan with how you use your income
a)
budget
b)
producer
c)
saving
2.
income not spent
a)
earning
b)
spending
c)
saving
3.
To make money/salary
a)
saving
b)
budget
c)
earning
4.
purchases goods and services for personal use
a)
donating
b)
producer
c)
consumer
5.
a government fee added to the cost of goods and services
a)
tax
b)
profit
c)
product
6.
Money added to pay for government services is a _________?
a)
tax
b)
scarcity
c)
demand
7.
Jobs that people do for others?
a)
Resource
b)
Services
c)
Producers
8.
The amount of a good or service that is available to consumers
a)
Supply
b)
Demand
c)
Saver
d)
Spender
9.
What happens to the price of objects when the demand for them decreases?
a)
The price will go down
b)
The price will go up
c)
The price will stay the same
d)
They will be free
10.
Physical items that you can touch and see are called:
a)
Goods
b)
Needs
c)
Services
d)
Wants
11.
Tasks completed for you by other people or by machines are called:
a)
Goods
b)
Needs
c)
Services
d)
Wants
12.
If there is a huge demand for an item and the supply is very low, what will happen to the price?
a)
The price will decrease
b)
The price will increase
c)
The price will stay the same.
d)
They will be free.
13.
Maria spends time helping to sort and hang clothes at the Salvation Army. She does not get paid for her time, but she enjoys helping people. The time Maria spends helping at the Salvation Army is called -
a)
a punishment
b)
savings
c)
earnings
d)
a donation
14.
Noah mows his neighbor's yard and gets paid $20. What is Noah doing?
a)
Earning
b)
Spending
c)
Saving
d)
Donating
15.
David got money for his birthday. He went to the mall the next day and bought a new video game. What did David do with his money?
a)
Earned
b)
Spent
c)
Saved
d)
Donated
16.
How much consumers want to buy a good or service is called
a)
Supply
b)
Savings
c)
Demand
d)
Earning
17.
Limited resources may cause___
a)
natural resource
b)
trade
c)
scarcity
d)
consumer
18.
Troy fixes his friend's sink. He is providing a _____________.
a)
trade
b)
opportunity cost
c)
product
d)
service
19.
Someone who makes a product to sell is a ____________.
a)
human resource
b)
consumer
c)
producer
d)
trader
20.
A farmer is a ___________ because he/she grows food to sell.
a)
producer
b)
consumer
21.
What are needs?
a)
Something that grows in nature
b)
Something that people would like to have
c)
Something people must have to live
d)
Something found on the moon
22.
What are wants?
a)
Something found in China
b)
something you must have to live
c)
something you see in a movie
d)
something you would like to have
23.
Getting a haircut
a)
example of scarcity
b)
example of a service
c)
example of a good
d)
example of a consumer
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