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WorksheetsPersonal Finance & Economics Review
Total questions: 36
Worksheet time: 18mins
Teachers provide a _______________.
Good
Service
Toys are a _______________.
Good
Service
Doctors provide a _______________.
Good
Service
Food is a _______________.
Good
Service
Firemen provide a _______________.
Good
Service
Shoes are a _______________.
Good
Service
Rosa is going shopping for new school clothes. Is Rosa a producer or consumer?
producer
consumer
Michael is going to the dentist. Is Michael a producer or consumer?
producer
consumer
Maria tutors students after school. Is Maria a producer or consumer?
producer
consumer
Jamie has a small family farm and sells vegetables at the local market. Is Jamie a producer or consumer?
producer
consumer
Miles is eating at a restaurant. Is Miles a producer or consumer?
producer
consumer
What does interdependence mean?
Producers only need consumers to buy their goods/services.
Producers need consumers to buy their goods/services. Consumers need producers to provide their goods/services.
Consumers only need producers to provide their goods/services.
Read each example. Julius goes to car dealership and buys a new car from Max. Julius is happy because he has a new car. Max is happy because he has Julius' money. Which term describes this concept?
saving
spending
voluntary exchange
voluntary independence
The demand for fidget spinners has gone down, but there is a large supply of them available at stores. What will happen to the price of fidget spinners?
the price will go up
the price will stay the same
the price will go down
Rubik's Cube has created a new toy that is in high demand for elementary school kids. The supply of the new Rubik's Cube toy is low, and they are hard to find. What will happen to the price?
the price will go up
the price will stay the same
the price will go down
Which of the following is an example of voluntary exchange?
Georgia trades peaches with Florida for oranges.
Georgia donates peaches to Florida.
Florida donates oranges to Georgia.
Georgoia residents can only travel to Florida for oranges.
Why does the government collect taxes?
to take away rights
to provide services to citizens
to enforce laws
What is a tax?
a service the government provides
money people have left over
money people pay to support government goods and/or services
Which of these services would taxpayers' money support?
painters
fire fighters
chefs
barbers
Choose TWO from the list that are provided by taxes.
libraries
coffee shops
schools
grocery stores
Choose ONE from the list that is NOT provided by taxes.
fire fighters
police officers
librarians
car dealerships
Maria wakes up and goes for a run in the local park. Later she buys a cup of coffee at a restaurant nearby. When is Maria using a public good or service?
while she is running at the park
while she is buying coffee
Lawrence drives to his job at a local grocery store. When is Lawrence using a public good or service?
while he is working at the grocery store
while he is driving on a road
Which of the following is an exapmle that tax money could be used to pay for?
a new arcade
a new pizza restaurant
a new city park
a new shopping mall
Sally has a science test tomorrow. Instead of studying she decides to go swim at the pool. What is the opportunity cost of her decision?
Sally's score on her science test
The fun Sally has swimming
Sally becomes a better swimmer
Samantha has been saving for a new video game, but when she sees a new fidget she buys that with the money she has saved. What is the opportunity cost of her decision?
the new fidget
she will have to save longer for the video game
Which of the following situations best describes an entrepreneur?
Stephanie works at Chic-fil-a on the weekends.
Martin started a lemonade stand with his friends.
Max does chores at home to earn money from his parents.
Steven babysits his brother after school.
Jessica drives a truck for Amazon. What kind of resource is the TRUCK?
Natural Resources
Human Resources
Captial Resources
Entrepreneurship
Jessica drives a truck for Amazon. What kind of resource is JESSICA?
Natural Resources
Human Resources
Captial Resources
Entrepreneurship
Land, trees, oil, and water are examples of which kind of resource?
Natural Resources
Human Resources
Captial Resources
Entrepreneurship
A chef who makes pizza is an example of which kind of resource?
Natural Resources
Human Resources
Captial Resources
Entrepreneurship
An Amazon storage facility is an example of _________________.
Natural Resources
Human Resources
Captial Resources
Entrepreneurship
Study the image. The APPLES are an example of ____________.
Natural Resources
Human Resources
Captial Resources
Entrepreneurship
Study the image. The WORKERS are an example of ____________.
Natural Resources
Human Resources
Captial Resources
Entrepreneurship
Study the image. The FACTORY is an example of ____________.
Natural Resources
Human Resources
Captial Resources
Entrepreneurship
Martin started the Juice company when he was a young adult. This is an example of ______________.
Natural Resources
Human Resources
Captial Resources
Entrepreneurship
