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Social Studies Ch 11, 12

Total questions: 18

Worksheet time: 9mins

Name
Class
Date
1.

A business that looks after people’s money is a ____________.

a)

budget

b)

bank

c)

economy

d)

piggy bank

2.

A plan for savings and spending money is a _______________.

a)

budget

b)

trade

c)

diary

d)

economy

3.

To put money into a bank account is to make a _______________.

a)

budget

b)

withdrawal

c)

interest

d)

deposit

4.

The way a country produces and uses goods and services is its _____________.

a)

economy

b)

bank

c)

export

d)

law

5.

To bring products and resources from another country to sell in the U.S is ____________

a)

export

b)

economy

c)

import

d)

barter

6.

To send a product or resource from one country to another to to be sold is ____________. 

a)

export

b)

import

c)

consumer

d)

barter

7.

Money earned by working

a)

trade

b)

bank

c)

cash

d)

income

8.

The exchange of one kind of product or service for another is called a ____________.

a)

money

b)

trade

c)

interest

d)

piggy bank

9.

An automobile mechanic earns an income by____________.

a)

inventing a product

b)

making a product

c)

providing a service to customers

d)

buying products

10.

A person who spends money is a ___________.

a)

consumer

b)

producer

c)

sharer

d)

saver

11.

The money a bank pays people for keeping their money is called ______.

a)

checks

b)

investment

c)

income

d)

interest

12.

An __________ is something that can grow in value.

a)

investment

b)

checks

c)

consumer

d)

saver

13.

If there is a great demand for a product and a low supply of it, the price will usually be _____________.

a)

very low

b)

low

c)

fair

d)

very high

14.

International trade is different today from trade during Marco Polo’s time because________________.

a)

 technology has made it earlier and faster for people to buy and sell goods

b)

people in Europe no longer want new products

c)

spices are common now

d)

people don't like silk

15.

A trade-off is ________________.

a)

what you give up to get something else.

b)

a way to budget your money

c)

a decision to do one thing and give up something else

d)

money set aside for future spending

16.

What are three reasons people might have for saving money

a)

emergencies

b)

college education

c)

retirement

d)

basic needs

17.

What means there is very little supply of something

a)

empty

b)

scarcity

c)

nothing

d)

less

18.

Characteristics of money are

a)

portable

b)

durable

c)

divisible

d)

recognizable