WorksheetsEconomics
Total questions: 14
Worksheet time: 14mins
Which of these will increase profit at a lemonade stand?
using cheaper lemons
using more ingredients
selling during cold weather
giving glasses away for free
What is a budget?
a plan for how to use money
a place where you can save money
a list of goods you need to buy
a type of work that earns money
Money that you put in a savings account...
is used to buy Mrs. Ochoa Kit Kats
earns interest
is gone forever
is put in a piggy bank
How can you earn money?
by owning your own business
by providing a service to others
by making something and selling it
all of these choices
Which of the following is a way that a business can use its money wisely?
It can use more expensive resources.
It can decide not to fix things that are broken.
It can buy machines to make goods.
all of these choices
Which of the following is the main goal of a charity?
work on TV shows
give money to people in need
make millions of dollars in profit
create computer programs to sell
Why do business spend money to invent things?
to save money for later
to put money in the bank
to help fix broken down machines
to make new and better goods to sell
Oprah Winfrey and Elon Musk are entrepreneurs because
they watch television all day long
spend all their time on the Internet
took risks to start their own businesses
grew fruits and vegetables to sell
Which of the following people are providing a service?
Thor grows fruit to sell.
Mrs. Ochoa teaches a third grade class.
The Hulk sells stuffed animals.
Spiderman sells lemonade he makes.
Suppose you are a buyer in a market. What do you want?
high prices and good quality
low prices and good quality
low prices and poor quality
high prices and poor quality
A farmer who runs a petting zoo is
creating scarcity
making a good
providing a service
spending money
A new toy becomes popular and many people want it. How will the price of the toy change?
price will go up
price will go down
Julie sells hot chocolate during the winter. But this winter has been very warm. How will the price of the hot chocolate change?
price will go up
price will go down
You are part of a free market economy because
you are providing a service
you can only purchase fruit
you can buy everything at the market
you can choose what you want to buy
