WorksheetsPersonal Finance Unit One Online Pre-Test
Total questions: 20
Worksheet time: 39mins
Which of the following things is a need?
Clean air
Cool Sneakers
New Jeans
Your favorite candy
Which of the following things is a want?
Food
Safety
Shelter
Smartphone
Is this object a need or a want?
Need
Want
Is water is need or a want?
Need
Want
What is opportunity cost?
There is not enough of something.
The actions people do to earn money.
The things people make and/or do to earn money.
The value of the next best option that is not selected when a choice is made.
Andrea has planned a trip to the beach for her family on Labor Day. Her daughter has been invited to the mountains by a friend but her daughter decides to go to the beach. What is her opportunity cost?
A trip to the beach.
A trip to the mountains.
The main economic problem is that
Resources are limited and wants are limited.
Resources are unlimited and wants are limited.
Resources are limited and wants are unlimited.
Resources are unlimited and wants are unlimited.
What is a short term personal goal?
Something I cannot achieve.
Something I want to achieve in 12 months or less.
Something I want to achieve but will take me more than five years.
What is something you want to achieve that will time, planning, and dedication?
Values
Goal Setting
Long term goal
Short term goal
What is the process of working toward something you want to accomplish called?
Vaules
Long term
Short term
Goal setting
The top reason why people work is to
Make money.
Learn a new thing.
Have peace of mind.
Be around other people.
Two examples of a job would include...
Doctor and Nurse.
Cashier and Food Server.
What is a career?
A waste of time
Something to do
A profession or occupation in a specific field for which you have trained for
Are careers short term or long term pursuits?
Long term
Short term
Careers often require you to
Work on weekends.
Be lazy and fake being sick.
Have specialized training, skills, and/or higher education
An economic system where the consumer drives many economic decisions is called a
Supply economy.
Demand economy.
Market economy.
Incentive-Based economy.
The amount of a good or service that is available to consumers is called
Saver.
Demand.
Supply.
Spender.
TRUE OR FALSE: Buyers (consumers) determine demand in a market.
TRUE
FALSE
The business cycle measures ____________ over time.
Wealth
Inflation
Economic Growth
The business cycle is made up of how many phases?
5
4
3
2
