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WorksheetsChapter 4 Study Guide [Social Studies]
Total questions: 24
Worksheet time: 24mins
groups of people living in one house
household
neighborhood
family
landowners
people who provide labor to produce goods and service for businesses or the government in exchange for money
human resources
workers
money earned from providing labor to business
profit
income
outcome
interest
things people want or need (food, clothes, shelter, a TV, electronics)
services
goods
labor from other people (plumbing, medical, yardwork)
goods
services
people who provide labor for goods/services
producers
consumers
people who buy goods/services
consumers
producers
organizes natural, human, and capital resource to produce goods/services they sell to earn a profit
private company
private organization
private enterprise
private business
Match the following terms related to money in the bank.
money placed in the bank
deposit
money taken out of the bank
withdrawal
total money in the bank
balance
when the bank gives a percentage of the total money in the bank to consumers
interest
the money people borrow from a bank or other people that the borrower has to pay back
loans
a place that keeps money safe and keeps up with how much money you have
money a business earns after paying all expenses
Match the following terms.
government program that provides income support to people that are elderly/disabled
social security
federal health care insurance program for the elderly
Medicare
when the government watches over the business to make sure they follow the laws and not harm the citizens or economy
government regulation
When people provide labor to help the business and the government produce goods/services, what type of productive resource are they?
Why do people work as human resources?
to make friends with coworkers
to have an easy work schedule
What other types of productive resources can people be?
Why do people choose to work in entrepreneurship?
Which goods would most households buy? (3 in each category)
food
toiletries
furniture
school whiteboard
bombs
luxury jewelry
What services would most households buy? (3 in each category)
Internet
Cable TV
Cellphone
Teacher's Assistant
5-Star Chef
Professional Artist
Which of these items are provided by private businesses, and which are provided by the government?
bicycle for children
interstate highway
short term income for laid off workers
navy submarine
hospital for an injured soldier
fence around a backyard
grocery store
US flag magnet for a guardian's car
people in households and businesses pay _____ to the government to pay for the goods and services the government provides
What are the four types of taxes?
sales, seafood, income, and regular
sales, property, money, and general
profit, property, income, and ordinary
Which statements are true, and which are false?
Taxes are used to pay for public goods/services
Taxes are only colled by the federal government
Businesses pay taxes but households don't
Income is not taxable
Government regulation protects consumers by laws on food safety and promotes competition among businesses.
False
True
Which are true?
Banks are businesses, too
Banks keep up with how much money you have
You trade with banks by using checks and credit cards
Banks give out loans to consumers
