WorksheetsAre YOU Ready?
Total questions: 45
Worksheet time: 53mins
Interest will be charged on your purchase
Debit Card
Credit Card
You may be charged an overdraft fee if you spend more money than you have in your bank account.
Debit Card
Credit Card
Buy now, pay later.
Debit Card
Credit Card
Your debit card is linked to your...
Checking Account
Credit Card
The cost of your purchase is withdrawn directly from your bank account.
Debit Card
Credit Card
Each purchase is like borrowing money from a bank.
Debit Card
Credit Card
What should you do immediately if you lose your credit card?
Call the police
Call the Credit Card company
Apply for a new card
This card is very useful in an emergency, when you don't have enough money.
Debit Card
Credit Card
What is net pay?
The total earnings on your paycheck
Three taxes that everyone must pay
How much a person is worth in total
The amount of your paycheck after taxes are taken out
What is gross earnings?
The total amount of wages on your paycheck
Three taxes that everyone must pay
How much a person is worth in total
The amount of your paycheck after taxes are taken out
What is Medicare tax for?
It funds health insurance for retired Americans
It funds Medicaid
It funds health insurance for all Americans
It funds health insurance for those who can't afford it under the Affordable Healthcare Act
What is another name for social security tax?
Income tax
FICA
Medicare tax
State tax
Which of these is an example of an entrepreneur?
Ted that goes to QT every morning to get coffee.
Barbara who shops at Goodwill once a month.
The National Bank of Jeff that loans money to new businesses.
Me taking the risk and operating a cupcake business!
What's a check stub?
What you give to the bank to deposit.
The part of a paycheck that lists deductions from your salary
It's an envelope.
What's a pay period?
The length of time for which an employee's wages are calculated; most are weekly, bi-weekly, twice a month or monthly.
It's a time sheet.
a paper document issued by an employer to pay an employee for services rendered
What's gross pay?
The total amount of an employee's earnings BEFORE deductions are taken out.
It's when you feel gross because of your paycheck
It;s the total amount of an employee's earnings AFTER all deductions.
Our tax money is spent on all of the following EXCEPT:
Social Security
The Military
Private School Education
National Parks
Which of the following taxes is applied to wages, salaries, dividends, and interest earned?
Corporate Income Tax
Income Tax
Estate Tax
Excise Tax
True or False: All wages, tips, and bonuses are taxable unless specifically excluded.
True
False
Which of these is the money you earn BEFORE taxes?
Gross Pay
Net Pay
If you worked 40 hours per week at $10 per hour, what is your gross income for the week?
$227
$4000
$40
$400
Coach Russo pays a tax each year of $3500 that is based off the value of his family's home. Which type of tax is he paying?
Payroll Tax
Income Tax
Sales Tax
Property Tax
8. Which of the following is a tax on the amount of money earned each year?
a. Progressive Tax
b. Sales Tax
c. Property Tax
d. Income Tax
Taxes help pay for government services like roads, education, the military
True
False
the inability to satisfy all wants at the same time. All resources and goods are limited. Limited goods and resources require that choices be made
economics
scarcity
resources
choice
Scarcity is a problem
measured by the amount of goods available.
of the poor, but not the rich.
because human wants are unlimited while resources are limited
only in industrialized economies.
An entrepreneur is:
an employee in a factory.
the manager of a factory.
the person who conceives and starts a business.
the person who contracts to work for a specific price.
_____ is the amount the producers are willing and able to sell.
demand
supply
surplus
shortage
