NEW
Font size
WorksheetsBusiness & Economics Assessment
Total questions: 13
Worksheet time: 8mins
People who make goods or provide a service
consumers
needs
producers
If the supply of a good is higher than the demand, what happens to the price?
stays the same
price increases
price decreases
Which type of economy involves trading, and doesn't usually use money?
traditional
command
mixed
market
What is a producer?
a person who gives goods away
things people would like to have
the exchanged of goods and services without the use of money
a person, company, or country that makes grows, or supplies goods for sale
What is a consumer?
a person who takes things
a person who purchases goods and services for personal use
a person who takes good away
the economic factors affecting the price, demand, and availability of a commodity
In a ______________ economic system, customs and traditions determine what and how to produce
traditional
market
command
mixed
You have a credit score of 350. Is this a good or bad credit score?
Good
Bad
Define debit:
An account with a bank where the customer buys and pays for something at the same time
Money that is owed
The ability of a customer to obtain goods and services before payment, based on the trust that payment will be made in the future
A bank account used to keep money for a long period of time that gains interest
Define credit:
An account with a bank where the customer buys and pays for something at the same time
Money that is owed
The ability of a customer to obtain goods and services before payment, based on the trust that payment will be made in the future
A bank account used to keep money for a long period of time that gains interest
When you invest in the stock market, your return depends on how well the business you bought shares from does. This is an example of a ________-risk investment.
Low
Moderate
High
What are Stocks?
Where an investor pools together several people's money and invests it in stocks and bonds. Good if you don't have the money to diversify and want to make more money than a CD or savings account.
Where you can deposit your money into a bank. You earn a small amount of interest off this investment method. You can access your money, but the bank will penalize you if you withdraw from it too much.
You own part of a company. You may earn a dividend where you get part of the company's pro t. You want to buy this when the price is low and sell when it's high.
Where you can deposit your money into a bank for a speci ed amount of time to earn a higher amount of interest. You cannot touch your money during the time it is invested this way.
When you loan money to a business or the government. You can cash it (after it matures) and get your initial payment back and your earned interest.
What is gross income?
The amount of money you can budget
The money taken out of your pay (ie. taxes)
Your take home pay. Gross income minus deductions
The amount of money you make before deductions
What is net income?
The amount of money you can budget
The money taken out of your pay (ie. taxes)
Your take home pay. Gross income minus deductions
The amount of money you make before deductions
