NEW
Font size
WorksheetsUnit 9 - Economics
Total questions: 31
Worksheet time: 3hrs 35mins
Economy
The things being exchanged in a transaction
The study of economies
A measurement of a society’s transactions and their impact on its people
the exchange of goods and services with other goods and services OR money
Economics
The things being exchanged in a transaction
The study of economies
A measurement of a society’s transactions and their impact on its people
the exchange of goods and services with other goods and services OR money
Transaction
The things being exchanged in a transaction
The study of economies
A measurement of a society’s transactions and their impact on its people
the exchange of goods and services with other goods and services OR money
Goods & Services
The things being exchanged in a transaction
The study of economies
A measurement of a society’s transactions and their impact on its people
the exchange of goods and services with other goods and services OR money
Market
the work done to produce goods and services
form of currency used to make transactions for/in place of goods & services
anywhere transactions take place
the resources needed produce goods and services
Labor
the work done to produce goods and services
form of currency used to make transactions for/in place of goods & services
anywhere transactions take place
the resources needed produce goods and services
Means of Production
the work done to produce goods and services
form of currency used to make transactions for/in place of goods & services
anywhere transactions take place
the resources needed produce goods and services
Money
the work done to produce goods and services
form of currency used to make transactions for/in place of goods & services
anywhere transactions take place
the resources needed produce goods and services
Income
economic system where means of production are publicly owned by all workers
the money a person is compensated for their work
the total market value of someone's money and property
economic system where means of production are privately owned by businesses
Wealth
economic system where means of production are publicly owned by all workers
the money a person is compensated for their work
the total market value of someone's money and property
economic system where means of production are privately owned by businesses
Capitalism
economic system where means of production are publicly owned by all workers
the money a person is compensated for their work
the total market value of someone's money and property
economic system where means of production are privately owned by businesses
Communism
economic system where means of production are publicly owned by all workers
the money a person is compensated for their work
the total market value of someone's money and property
economic system where means of production are privately owned by businesses
Cost of Living
The $ needed to live in a specific place. Can vary depending on location
The $ needed to live anywhere. Does not vary by location
Expenses
Money spent
Money saved
Money invested
Money made
Savings
Money spent
Money saved
Money invested
Money made
You never want to take money out of a savings account if possible
True
False
Rent
Money the owner of something gives to someone borrowing it
When someone is paying to own something (house, apartment, car, etc)
When someone is paying to borrow something (house, apartment, car, etc)
Mortgage
Money the owner of something gives to someone borrowing it
When someone is paying to own a home
When someone is paying to borrow something (house, apartment, car, etc)
Which is typically less expensive in the short term?
Rent
Mortgage
Which is typically less expensive in the long term?
Rent
Mortgage
Which builds more wealth?
Renting
Owning
Wage
The money and employer pays an employee per week or per hour
The money an employer agrees to pay an employee per year
Salary
The money and employer pays an employee per week or per hour
The money an employer agrees to pay an employee per year
Which type of employment has more financial security?
Salary worker
Wage worker
Tuition
The cost of attending a school
Wage $ given to attend school b/c of accomplishments. No need to be paid back
$ borrowed to attend a school. Needs to be paid back
$ given to attend school b/c of financial need. No need to be paid back
Scholarship
The cost of attending a school
Wage $ given to attend school b/c of accomplishments. No need to be paid back
$ borrowed to attend a school. Needs to be paid back
$ given to attend school b/c of financial need. No need to be paid back
Loan
The cost of attending a school
Wage $ given to attend school b/c of accomplishments. No need to be paid back
$ borrowed to attend a school. Needs to be paid back
$ given to attend school b/c of financial need. No need to be paid back
Grant
The cost of attending a school
Wage $ given to attend school b/c of accomplishments. No need to be paid back
$ borrowed to attend a school. Needs to be paid back
$ given to attend school b/c of financial need. No need to be paid back
Supply
The amount of a good or service being provided to consumers
The amount of consumers who want a good or service
Demand
The amount of a good or service being provided to consumers
The amount of consumers who want a good or service
When planning to pay for college, which do you want to avoid if you can...
Grants
Loans
Scholarships
