WorksheetsEconomics - 7th Grade
Total questions: 26
Worksheet time: 13mins
A card in which you borrow money that you agree to pay back later.
Credit Card
Debit Card
EBT/SNAP Card
Visa gift Card
Money that is paid to the government on products, property, and the money you earn is called
Insurance
Interest
Taxes
Expenditures
When there is a lack of resources to sell, such as a shortage on toilet paper during Covid, this is referred to as a(n)
Economic Crisis
Surplus
Scarcity
Anomaly
Creating an organized plan as to where the money you earn on a regular basis will be allocated is called
financial organizing.
investing.
playing the stock market.
budgeting.
The total money you earn BEFORE taxes and insurance are taken out.
Gross Salary
Net Salary
Flex Salary
Hourly pay
The total amount of products made and services provided in a country within a year is called
Government Stock Exchange or GSE
Gross Production in Business or GPB
Gross Domestic Product or GDP
Gross Business Investments or GBI
If prices are increasing that is referred to as
Cyber Monday
Inflation
Super Tuesday
Deflation
An economic principle basing prices on the amount of products available and how much those products are wanted by people.
Inflation and Deflation
Cost and Expenses
Principal and Interest
Supply and Demand
When you borrow money, you not only have to pay the money back, but you often have to pay an additional fee called
insurance.
taxes.
inflation.
interest.
Minimum Wage in Missouri as of 2025?
$13.75
$10.30
$11.15
$7.25
Giving up the benefit or value of one thing in order to acquire or achieve something else. (Saving money vs. spending money)
Investment strategizing
Economic Costs
Opportunity Costs
Financial Considerations
The rating you receive on how poorly or wisely you have handled your money.
Percentage of Interest
Credit Score
Bankruptcy
Financial rating
The payment you make to the bank for a house you have purchased.
Rent
Mortgage
Insurance
Interest note
Money given to you for college that you do NOT have to pay back.
Scholarship
Student Loan
Financial Aid
Credit
The process of making goods and services available to consumers and convincing them to buy the product is called
Proprietorship
Networking
Corporation
Marketing
When the bank takes your home because you are unable to pay the monthly payments.
Mortgage
Foreclosure
Repossession
Bankruptcy
A regular payment made to companies to receive their financial help with the cost of accidents, health, or loss of property, and death.
Interest
Insurance
Investment
Taxes
In order to legally drive you are required by law to have all of the following, except
Driver's license
Car payment
Car insurance
Current Tags on your vehicle
When you save money, you can earn additional money on the original amount you have put in for simply letting the bank hold your money. They pay you ____________
interest.
insurance.
taxes.
hidden fees.
The money you ACTUALLY get to take home and use from what you've earned.
Gross Salary
Net Salary
Government pay
Taxes
When you go to court to file for forgiveness on debts you have accumulated.
Foreclosure
Credit Scoring
Grievance
Bankruptcy
Economics is the study of
finances and decisions.
locations of manufacturers.
landforms and water concerns.
the wealth of the oil industry.
During Covid, nobody wanted to fly in airplanes. Therefore, flights had a lot of empty seats. This is an example of
Scarcity
Surplus
The first night of the Chiefs winning the Super Bowl, only a few stores were open to sell championship T-shirts. They only had a limited amount to sell and people wanted them bad. This is an example of
Scarcity
Surplus
If someone in an apartment loses everything they have to a fire, they might at least be comforted to know they had
a car to live in temporarily.
a bank account.
a safety deposit box.
renter's insurance.
What is welfare?
How well you are faring financially
Government Program to assist families or individuals in need
Financial assistance for college or secondary school individuals
Non-profit shelters for families in need
