WorksheetsPersonal Finance pgs. 1-4 (1-14)
Total questions: 13
Worksheet time: 3hrs 15mins
Why do households sell their labor to businesses?
They receive income in exchange for labor.
They receive tax money in exchange for labor.
They receive small business loans in exchange for labor.
They receive government services in exchange for labor.
Which of the following is one role of the household sector of an economy?
to collect taxes
to pay interest
to provide goods
to consume services
Which of the following BEST completes the flowchart?
Taxes
Goods
Services
Resources
Which of the following BEST describes the business sector of the U.S. economy?
The business sector creates wants and needs.
The business sector is financed by the government.
The business sector supplies labor to resource markets.
The business sector produces goods and provides services.
Which of the four sectors of the U.S. economy is formed by profit-seeking entrepreneurs who use resources to produce goods and services to sell?
banks
households
government
private businesses
Which of the four major sectors in the US economy provides checking accounts, savings accounts, and loans?
banks
households
government
private businesses
Which of the following BEST explains what should Jayla expect by taking a loan from her bank?
to have to pay her employees their monthly salaries
to repay the bank based on the amount of the loan plus interest
to receive money from her employees to help her repay the loan
to be so successful that she will be able to repay the loan in full right away
Which of the following is the BEST title for the list?
Benefits of bank loans
Benefits of a debit card
Benefits of savings accounts
Benefits of checking accounts
How do banks in the United States make MOST of their money?
taking customers’ property
investing in the stock market
selling houses that they buy from customers
loaning money to individuals and businesses
What is one benefit of depositing your money into a savings account versus a checking account?
to earn the most money on the deposit to use the money
to pay monthly bills and expenses
to make sure the bank has enough cash to cover their deposit
to make sure they pay the lowest possible tax rate on the deposit
Which of the following would be the BEST decision to meet Sammy’s needs?
deposit all $2,000 into a savings account
deposit all $2,000 into a checking account
deposit $1,500 in a checking account and $500 in a savings account
deposit $1,500 in a savings account and $500 in a checking account
Why do banks loan money to households and businesses?
because the government pays banks for providing the loans
because banks earn a profit by charging interest on the loans
because banks are publicly funded and provide public services
because the loans are used to buy goods produced by the banks
Why do cities use tax dollars to fund services such as garbage removal?
because private companies do not want the work
because the services are necessary for a healthy society
because public taxes are limitless and must be used correctly
because the services provide jobs for people in the community
