WorksheetsRunning a Business Quiz
Total questions: 28
Worksheet time: 15mins
Stephanie wants the newest phone. It costs $400. She has $300 so she doesn't have enough. What will she need to do to get to $400?
Spend
Save
Donate
Earn
Many people earn money working at a job. Another way to earn money is by —
buying new things at the store
volunteering
keeping money in a savings account
Some students baked cookies for the school bake sale fundraiser. This is an example of —
consuming
donating
spending
Which expense would the students baking cookies for a school bake sale most likely have?
wages for the workers
ingredients for the cookies
rent for the school building
Which of the following are characteristics of a Free Market economy?
competition
freedom of choice
little or no government control
all of the above
Look at a Maria’s budget above. How is Maria earning money?
by providing services
by earning interest on her savings
by selling goods to her customers
Which description is an example of an event that may cause scarcity?
Oil has been discovered in the Arctic Ocean.
New kinds of cell phones are going on sale.
Bad weather caused orange crops to freeze.
During years of very little rainfall people have to conserve water. This is an example of —
scarcity
spending
wants
In which of these situations would the price probably go up?
Many stores want to sell the same t-shirts.
More bikes are for sale than there are bikes sold.
More people want peaches than there are peaches available.
If the demand for a product is low, what will the seller most likely do?
lower the price
raise the price
keep the price the same
What is a good?
Walking a dog?
Toy
Fireman
Babysitting
Who makes or grows goods or offers services?
producers
consumers
demanders
resources
Which is good advice for saving and spending money?
Spend all of your allowance as soon as you get it.
Use a budget to plan how much money you can save.
Try to buy things you want before things you need.
Buy things you use only once, then throw them out.
What is one way you can earn money?
Open a lemonade stand
Donate money to charity
Volunteer at the library.
Buy a horse.
What is supply?
The total amount of a good or service one has to offer.
How much people want an item or service
service
goods
What is demand?
The total amount of a good or service one has to offer.
How much people want an item or service
A good
A service
You are at an amusement park when it begins to rain. The demand for umbrellas will?
increase
decrease
What does "expense" mean?
The amount you have to spend on something
The amount you save
The amount you earn
A popular book arrived in stores this morning. The books sold so fast that many people did not get to buy one. More copies are going to arrive in a few days. If there are still not enough books what is likely to happen?
The price of the books could go up.
People will not want to buy the book.
The cost to make the books could increase.
What does "profit" mean?
The amount of money you spend on something
The amount of money you earn
The amount of money you lose
Henry Ford is an American entrepreneur who started a company that made...
cars
computers
cookies
Which of these do you include in a budget? (you will need to pick more then one answer)
Earnings
Spending
Sleeping
Donations
Savings
You select a sweatshirt with a price tag of $6.00 and take it to the checkout counter. The cashier says you owe $6.50. Which reason explains why the price increased at the checkout?
The sales tax was added to the price.
Cost for shipping was added to the price.
A donation for charity was added to the price.
If a man buys a pair of shoes for $15.00 and sells them for $20.00 he will make a...
Service
Profit
Donation
Why is it important to plan for any business?
because planning is a skill
Because planning is a base for any successful business.
Is this photo showing a good or a service?
service
goods
When i tell others about my own business that means .......
To advertise
To plan
A person who has started their own business
Clerk
Entrepreneur
Waiter
Pilot
