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WorksheetsEconomics and Personal Finance Review
Total questions: 15
Worksheet time: 8mins
Jennifer works for the Pepsi company as a truck driver. What type of resource is Jennifer?
Capital Resource
Human Resource
Natural Resource
Entrepreneur
Which is a capital resource that a lawn-care company would need?
Lawn Mower
Lawns
Customers
Employees
Which of the following correctly describes an entrepreneur?
Christina folding laundry because it is one of her chores.
Jacob starting his own doggy daycare and hiring his friends.
Kimberley babysitting her brother while her parents go to the movies.
Brandi getting a job so she can buy Christmas presents.
Why are entrepreneurs considered "risk-takers"?
They are guaranteed a successful business.
Their business could fail and they could lose all the money they have invested into it.
They are charged more taxes.
They combine human resources, natural resources, and capital resources to start a new business.
Which of the following is true about supply and demand?
If demand is greater than supply, prices are lower.
If supply is greater than demand, prices are lower.
If supply is equal to demand, the prices are lower.
If supply is greater than demand, the prices are higher.
What is a tax?
A tax is a service the government provides to its citizens.
A tax is money people have leftover after purchasing goods or services.
A tax is money people pay to support the government.
A tax is a service that people provide by working for the government.
If a city builds a new park, how will it be paid for?
Donations the city collected
The mayor used her own money
The city used tax money paid by the citizens
The city got a loan from the federal government
Florida farms a lot of oranges. Oranges do not grow well in Massachusetts. Massachusetts grows cranberries but Florida does not. How do the states meet their needs?
The 2 states eat each other's fruits.
The 2 states trade fruit with each other.
The 2 states donate their fruit to each other.
The 2 states heavily tax the fruit so they can buy more.
Lily saves money. Lily spends it.
Ashley makes fruit baskets. Gillian buys the fruit baskets.
Graham buys a motorcycle. Christian built the motorcycle.
Parker earns an allowance. James works for his income.
What is the name of the place where people buy and sell goods?
Amazon
factory
marketplace
Industrial Park
Why is trade with other countries important for American consumers?
It gives people more choices in the goods they buy.
It improves the quality of goods made in America.
It forces the government to lower taxes.
It helps protect the environment from pollution.
Why is it important that goods are made all over the world?
It helps the government get rich through taxes.
Businesses can charge more for their goods.
Consumers pay the lowest prices possible.
It gives consumers access to goods their communities do not make.
Why do countries have currency?
So people can earn more money.
So people can buy goods and services
So people have a way to pay taxes.
So people can trade labor for other goods and services.
Neha has been saving up her money for a new bike. Her old one still rides just fine. What is her opportunity cost if she buys that new bike?
She will have a new bike.
She will have less money in savings.
Now she has 2 bikes. Yay!
She will have more money than she did before buying the bike.
Ben needs to study after baseball practice for his math test tomorrow. However, the team said they were going to hang out and get ice cream afterwards. If Ben goes for ice cream, what is his opportunity cost?
Ben's growing friendships with his teammates.
Ben's score on his Math test.
Ben's ability to improve his baseball skills.
Ben's teammates will call him a nerd.
