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WorksheetsEconomics Review
Total questions: 15
Worksheet time: 13mins
Justin's mom puts most of her income in the bank. Which BEST describes Justin's mom?
Saver
Spender
Why would someone choose to save their money?
They can buy something bigger later.
They can buy something now.
They can enjoy candy.
Which of these is a service that people can sell to others?
Shampoo
Scissors
Washing cars
Which of these is a good that people could buy?
Dentist
Shampoo
Teacher
What is something people need to live?
Candy
Television
Food
Why do people work?
To earn money
To sleep
To go home
Greg has decided that he wants to buy a new bike that costs $125, and he only has $75. What should Greg do?
Buy the new bike
Save his money, because he doesn't have enough
What is an income?
Money a person spends on goods and services
Money a person gives to the bank
Money a person makes at a job
In the month of December, sunscreen goes on sale for 50% off the price it sells for in July. What is the supply and demand for sunscreen?
High Demand and Low Supply
Low Demand and High Supply
Jan is going to a birthday party on Friday for her friend. She has $15 and has not bought her friend a gift yet. What should Jan do?
Buy her friend a birthday present that cost less than $15
Save her money and not buy a birthday present for her friend
During the holiday season the most popular toy increases in price because many kids want it. What is the supply and demand for the popular toy?
High Demand and Low Supply
Low Demand and High Supply
Which items would be "wants"? Choose all that apply.
Water
Game
Field Trip
Clothes
Which items would be "needs"? Choose all that apply.
Water
Game
Field Trip
Clothes
You saved $2.00 from your trip to the grocery store. Now you want to save for a new bookbag. The bookbag is $15.00. How much money will you need to save to buy the bookbag you want?
$10.00
$13.00
$5.00
$2.00
You have a budget of $10.00 to spend at the grocery store. Your goal is to save $2.00 of your budget. Choose two items that you can buy today to meet your goal.
Lettuce
$4.00
Carrots
$5.00
Grapes
$6.00
Strawberries
$2.00
