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Worksheets

Summative

Total questions: 21

Worksheet time: 2hrs 45mins

Name
Class
Date
1.
Why is being an entrepreneur risky?
a)
Because there are no more creative enterprises to create a business out of.
b)
Because entrepreneurs always fail.
c)
Because you often risk your own personal wealth.
d)
Because people don't trust entrepreneurs.
2.

Anything that is purchased with the hope that it will generate income or be more valuable at a future date.

a)

investment

b)

loan

c)

income

d)

expense

3.

Money borrowed from a bank.

a)

dept

b)

loan

c)

budget

d)

expense

4.

Cost paid to secure a good or service.

a)

expense

b)

income

c)

dept

d)

interest

5.

The fee for borrowing and using someone else's money.

a)

expense

b)

interest

c)

interest rate

d)

income

6.

Payment received for goods or services, including employment.

a)

interest

b)

dept

c)

credit

d)

income

7.

The percentage at which interest is charged or paid.

a)

interest

b)

interest rate

c)

budget

d)

cost benefit analysis

8.

A plan for future spending and saving, weighing estimated income against estimated expenses.

a)

income

b)

cost comparison

c)

budget

d)

cost benefit analysis

9.

Money owed, usually as a result of borrowing.

a)

dept

b)

expense

c)

income

d)

interest

10.
A card that borrows money but it has to be paid back
a)
Debit Card 
b)
Credit Card 
c)
Baseball Card 
d)
Pokemon Card 
11.
A card that uses money directly from your bank account
a)
Debit Card 
b)
Credit Card 
c)
Pokemon Card 
d)
Baseball Card 
12.

What is a budget?

a)

A type of savings account

b)

A way to invest for retirement

c)

A fund for emergencies

d)

A financial plan that defines expenses for a period of time.

13.
money earned
a)
salary
b)
income
c)
purchase
d)
spend
14.
the amount of money a person can earn by being self-employed or by doing a job for another person or business
a)
salary
b)
scarce
c)
interest
d)
lend
15.
to give money to someone else in exchange for something
a)
interest
b)
lend
c)
spend
d)
borrow
16.
another person gives you money that you will then need to pay back
a)
borrow
b)
purchase
c)
scarce
d)
labor
17.
to obtain by paying money for an item or a service
a)
income
b)
purchase
c)
saving
d)
salary
18.
to let someone else use your money and they will need to pay you back
a)
human capital
b)
borrow
c)
lend
d)
interest
19.
paying for something with money that is borrowed and must be paid back, usually with interest
a)
credit
b)
income
c)
resources
d)
salary
20.
the money paid by the borrower to the lender for the use of the lender's money
a)
interest
b)
savings plan
c)
scarce
d)
purchase
21.
a required contribution to the state and federal government
a)
tax
b)
donate
c)
spend
d)
loan