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BizTown Vocabulary Smithson

Total questions: 61

Worksheet time: 2hrs 2mins

Name
Class
Date
1.

ATM

a)

A machine that allows bank customers to deposit or withdraw money without going inside of a bank.

b)

The current amount of money in an account

c)

A written order to a bank to pay a certain amount of money from a checking account to another person or business.

d)

Automatic Total Maker

2.

Balance

a)

The current amount of money in an account.

b)

A machine that allows bank customers to deposit or iithdraw money without visiting the bank.

c)

A written order to a bank to pay a certain amount of money from a checking accont to another person or business.

d)

The expected amount of money a person or business expects to get from a transaction.

3.

Check

a)

Slang for checking the current amount of money in an account

b)

A written order to a bank to pay a certain amount of money from a bank account to another person or business.

c)

The amount of money placed into an account AFTER all deductions.

d)

A business that tries to meet its customers's needs throught continuous improvement

e)

The amount of money a buyer pays and a seller receives for the purchase of a good or service.

4.

Quality Business

a)

A business that tries to meet its customers's needs through continuous improvement.

b)

A business that stresses selling quantity rather than quality.

c)

A machine that allows bank customers to deposit or withdraw money without visiting the bank.

d)

A business that hires over 20 people usually for a salary.

5.

Deposit ticket

a)

The money an employee earns for hes/her work.

b)

The amount of money a buyer pays and a seller recewives for the purchase of a good or service.

c)

A written record of money put into a checking account.

d)

The otal of all expenses needed to run a business

6.

Direct deposit

a)

An electronic transfer of money from one account to another. (Used by employers to pay employees.)

b)

The amount of money placed into an account AFTER all deductions.

c)

The total of all expenses needed to run a business

d)

Goods that a business has in stock to sell.

7.

Net Deposit

a)

A promise to repay a loan within a certain time period.

b)

A business that tries to meet its customers' needs through continuous improvement.

c)

Goods that a business has in stock to sell.

d)

The amount of money placed into an account AFTER all deductions.

8.

Operating Costs

a)

An esectronic transfer of money from one account to another.

b)

The total of all expenses needed to run a business.

c)

The amount of money earned from sales

9.

Revenue

a)

The amount of money earned from sales

b)

Gpopds that a business has in stock to sell

c)

The amount of money placed into an acount after all deductions.

d)

The total of all expenses needed to run a business.

10.

Salary

a)

The money an employee earns for his/her work

b)

The amount of money placed into an account AFTER all deductions.

c)

The amount of money earned from sales.

d)

The amount of money a customer pays for a good or service.

11.

Promissory Note

a)

A promise to repay a loan within a certain time period.

b)

A promise to refund the price in full if the customer is not satisfied.

c)

A promise to get married to the vendor if the customer is not satisfied with the product.

d)

The amount of money placed into an account AFTER all deductions.

12.

Selling Price

a)

The total of all expenses needed to run a business.

b)

The amount of money placed into an account AFTER all deductions.

c)

The amount of money a buyer pays and a seller receives for the purchase of a good or service.

d)

The money an employee earns for his/her work.

13.

Inventory

a)

Goods that a business has in stock to sell.

b)

The total of all expenses needed to run a business

c)

The invention that made a business successful.

d)

The amount of money earned from sales.

14.

Advertising

a)

A written record of monty put into a checking account.

b)

A way of persuading people to want goods or services.

c)

A MODEL of movement of goods, services, resources, and money in an economy.

d)

The freedom to act in a certain way respectfully.

e)

Things people buy and use.

15.

Community

a)

The people and things needed to produce goods and services.

b)

Work done for others.

c)

A place where people live, work, trade, and share.

d)

A city with over 100,000 citizens.

16.

A business has too many widgets in it's inventory. What is the most direct way for the business to reduce it's inventory and cover the cost of the widgets?

a)

Raise the price of other items.

b)

Lower the cost of production.

c)

Lower the price of the widgets.

d)

Pay less taxes.

17.

Right

a)

The freedom to act in a certain way respectfully.

b)

The best item available to purchase.

c)

A place where people live, work, trade, and share.

d)

A model of movement of goods, services, resources, and money in an economy.

e)

A rule of law that ensures everyone gets a fair deal.

18.

Responsibility

a)

Being accountable for one's own actions and obligations.

b)

The freedom to act in a certain way, respectfully.

c)

The ability to respond to most business situations.

d)

The ability to be held responsible in the event of a law suit.

19.

Goods

a)

The people and things needed to produce services.

b)

The good members of a community.

c)

The bad members of a community

d)

Things people buy and use.

e)

The members of a community that are neither good nor bad.

20.

Natural Resources

a)

Things that occur naturally in the world that are used to make goods.

b)

Resources that are produced in a factory.

c)

Resources that are found abundantly in nature.

d)

Being accountable for one's own actions and obligations.

21.

Resources

a)

The freedom to act in a certain way, respectfully.

b)

Being accountable for one's own actions and obligations in the event of a law suit.

c)

The people and things needed to produce goods and services.

22.

Services

a)

Work done for others.

b)

The people and things needed to produce goods.

c)

A meeting.

d)

A model of movement of goods, resoures and money in an economy.

23.

Consumer

a)

Someone who eats more than they purchase

b)

Members of a town , city, county, state or country.

c)

Things people buy and use.

d)

People who buy and use goods and services.

e)

The freedom to act in a certain way, respectfully.

24.

Circular Flow

a)

A model of movement of goods, services, resources, and money in an economy.

b)

The amount of money a buyer pays and a seller receives for the purchase of a good or service.

c)

The money an employee earns for his/her work.

d)

A company that sells goods and or services.

25.

Business

a)

A company that sells goods and or services.

b)

A system in which economic decisions are made in markets by people and businesses, with little government influence.

c)

A person who uses resources to start a company.

d)

When someone is too busy to accomplish the desired outcome.

26.

Entrepreneur

a)

A person who uses resources to start a business.

b)

The labor, skills and abilities of workers used in production or sales.

c)

An entertainer who makes a good living.

d)

Someone who makes a living by teaching others how to navigate government regulations.

27.

Human Resources

a)

Peoples who uses resources to start businesses.

b)

The labor, skills and abilities of workers.

c)

A company that sells goods and services.

d)

The current amount of money in a worker's bank account.

28.

Interests

a)

The things a person likes to do.

b)

Abilities a peerson has developed anddoes well.

c)

A person who works for an employer

d)

A written summary of a person's school and work experience

e)

People who request jobs.

29.

Skills

a)

The bony part of the human anatomy which is attached to their neck.

b)

Abilities a person has developed and does well.

c)

A written summary of a person's school and work experience.

d)

People who work for employers.

30.

Career

a)

Work that matches a worker's interests, values and abilities. (Usually for a long time.)

b)

Temporary employment.

c)

Employment with a large corporation.

d)

Things a person likes to do.

31.

Employee

a)

A person with skills who interviews with a business.

b)

A person who applys for a position in a large corporation.

c)

A person who works for an employer.

d)

A person who works for the public.

32.

Employer

a)

A business that hires one or more people, usually for a wage or salary.

b)

Someone who works for his/her self.

c)

A person who requests or seeks something such as a job.

d)

An advertising specialist.

33.

Resume

a)

An advertisement for goods.

b)

A discussion (usually face-to-face) to determine whether an applicant is suitable for a job.

c)

Work that matches a worker's interests, values, and abilities.

d)

A written summary of a person's school and work experience.

34.

Job Interview

a)

An interview with the customer to see whether the contracted labor was filled correctly.

b)

A discussion (usually face-to-face) to determine whether an applicant is suitable for employment.

c)

An interview between customers to establish whether or not they were treated in a courteous manner.

d)

A business that hires one or more people, usually for a salary.

35.

Applicant

a)

A person who requests or seeks something, such as a job.

b)

A person who works for an employer.

c)

A person who's work matches their interests, values, and abilities.

d)

A written summary of a person's school and work experience.

36.

Credit Card

a)

A card that allows customers to electronically and immediately withdraw funds from their bank accounts.

b)

A card that allows the holder to buy goods and services by taking out a bank loan.

c)

A card that allows the holder to issue credit to a buyer or seller.

d)

A card that establishes the rights an employee has with his/her employer.

37.

Debit Card

a)

A card that allows customers to electronically and immediately withdraw funds from their bank accounts.

b)

A card that allows the holder to buy goods and services by taking out a bank loan.

c)

A card that when played in a card game immediately causes the player to go into debt.

d)

A card that someone uses wen they first make an appearance in the business world.

38.

Electronic Payments

a)

A number required when a person uses a debit card.

b)

Payments that have an electrical charge which is felt in the fingertips, thus identifying the holder as an authorized person on the account.

c)

Payments made using an app that allows the user to automatically debit (withdraw) from a bank account.

d)

Payments using a Debit or Credit ard that allows the holder to buy goods and services by taking out a bank loan.

39.

PIN

a)

(Personal Identification Number) A number reqired when a person uses a debit card.

b)

(People In Need)

Is an acronym businesses use to help people in need.

c)

(Parents Information Network) is an acronym for parents of young entrepreneurs.

d)

PIN has to do with attaching a legal document with a pin.

40.

Asset

a)

Something that has little value

b)

Something of value.

c)

The way in which a business begins.

d)

Deciding how to use something.

41.

Marketing

a)

Taking your product to a marketplace to check the sales viability.

b)

Loss of reputation in business.

c)

Spreading word about your business and enhancing brand awareness.

d)

Marking money so that it can be easily identified.

42.

Invoice

a)

A contract in Voice only, not in writing.

b)

Payment for goods or services.

c)

A dated statement that documents items sold and to what value. “It is assumed that once an invoice is issued, payment will be prompt.

d)

A written order to a bank to pay a certain amount of money from a checking account to another person or business.

43.

Profit

a)

Revenue minus expenses.

b)

Expenses minus revenue.

c)

Business expense.

d)

The current amount of money in an account.

44.

Client

a)

A person or business who is using the services of a business.

b)

Another word for an attorney.

c)

Another word for an ATM

d)

Account Balance

45.

Debt

a)

Synonymous with Credit

b)

The state of owing something to a person or business. (Usually money.)

c)

The state of being owed something by a person or business. (Usually money.)

d)

A type of transaction rarely used in today's electronic world.

46.

Guarantee

a)

Granting of legal rights.

b)

An illegal act with regards to trading.

c)

Money passing from one business or person to another.

d)

Written assurance that a product or service will be as described.

47.

Commerce

a)

Things that contribute to the smooth, distribution and transfer of goods and or services.

b)

An advertizement

c)

A communal way of ending a business

d)

The current amount of money in an account.

48.

Negotiation

a)

The process of one party cheating another party out of items or services legally owed to them.

b)

The process of discussing and reaching an agreement between parties who have different interests or opinions.

c)

A written order to a bank to pay a certain amount of money from a checking account to another person or business.

d)

The total of all expenses needed to run a business.

49.

ROI

a)

Return On Investment

b)

Right Of Inventory

c)

Revenue of Identification

d)

The total of all expenses needed to run a business

e)

The amount of money a buyer pays and a seller receives for the purchase of a good or service

50.

Innovation

a)

The process of advertising and marketing tried and true products or services.

b)

Goods that a business has in stock to sell.

c)

The process of introducing new ideas, methods or products that create value and create positive change in a business or industry.

d)

The people and things needed to produce goods and services.

51.

Estimate

a)

The amount of money a buyer pays and a seller receives for the purchase of a good or service.

b)

The total of all expenses needed to run a business.

c)

A general idea about the value, size or cost of something based on a rough calculation.

d)

A promise to repay a loan within a certain time period.

52.

What does a savings account allow you to do?

a)

Use a money tracker.

b)

Have money on hand for unexpected expenses or emergencies.

c)

Get money out of the bank

d)

Have more spending money now.

e)

Have quicker access to your money.

53.

Where does the money come from when you use a debit card to buy something?

a)

Your Certificate of Deposit (CD)

b)

The credit company.

c)

Your bank account.

d)

The government.

54.

Philanthropy

a)

The effort to increase the well-being of others through charitable giving

b)

The effort to provide health care by the government.

c)

The ability to sell goods and services at a discount.

d)

The requirement to pay taxes as a citizen.

55.

What is the responsibility of a U.S. citizen?

a)

Being an informed voter.

b)

Giving money to charity.

c)

Participating in group activities.

d)

Sharing personal information.

56.

What is the role of a business in the economy?

a)

Approve a new government plan.

b)

Buy products for personal use.

c)

Produce goods and services.

d)

Provide labor to build products.

57.

Why do people and businesses pay taxes?

a)

To pay the government for provate goods.

b)

To be gifted to business owners.

c)

To be deducted by banks

d)

To pay for the things government provides to people.

58.

Which is a private good or service?

a)

Fire Station

b)

Mountain View Prep Academy

c)

Cottonwood city office.

d)

Grocery store.

59.

Which describes the data career type?

a)

Helping others

b)

Thinking about concepts.

c)

Working with objects.

d)

Analyzing information.

60.

Which behavior is important in all workplaces?

a)

Wearing the uniform correctly.

b)

Using coding skills.

c)

Attending early morning meetings.

d)

Demonstrating teamwork.

e)

Getting paid on time.

61.

Two characteristics of a quality business are good customer service and __________.

a)

Letting problems go

b)

Staying the same.

c)

Successful sales

d)

independence