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WorksheetsUnderstanding Maps and Money Basics
Total questions: 64
Worksheet time: 37mins
What is the name of the symbol on a map that shows directions like north, south, east, and west?
Compass rose
Legend
Scale
Grid
Which of the following is a way to earn money?
Doing chores for your neighbor
Spending money at a store
Donating to charity
Saving in a piggy bank
What is a budget?
A plan for how to spend and save money
A type of map
A way to earn money
A list of chores
If there are only a few toys left in a store but many kids want them, what will likely happen to the price?
The price will go up
The price will go down
The price will stay the same
The toys will be free
What does scarcity mean?
There is not enough of something for everyone who wants it
There is too much of something
Everyone gets what they want
Things are free
Which map element helps you understand what the symbols on a map mean?
Legend
Compass rose
Title
Scale
Which of the following is an example of saving money?
Putting money in a piggy bank
Buying a new toy
Giving money to a friend
Spending all your allowance
If you have 10andyouwanttosave 4, how much can you spend?
$6
$4
$10
$14
If a lot of people want ice cream and there is only a little bit left, what happens to the price?
It goes up
It goes down
It stays the same
It becomes free
Which of the following is an example of scarcity?
Only three cookies left for five kids
A full basket of apples for one person
Unlimited pencils for everyone
Free water for all
Which map element tells you how far things are from each other in real life?
Scale
Compass rose
Legend
Grid
Which of the following is a way to donate money?
Giving money to a charity
Buying a toy
Saving in a bank
Earning an allowance
If you want to save half of your $8 allowance, how much will you save?
$4
$8
$2
$6
If there are many apples in the store and not many people want them, what will happen to the price?
The price will go down
The price will go up
The price will stay the same
The apples will be free
Which situation shows scarcity?
Not enough seats for everyone in the classroom
Extra snacks for all students
Plenty of books for everyone
Free time for all
Look at a map with a grid system. If your friend is at B3, which map element helps you find them?
Grid system
Compass rose
Legend
Scale
You want to buy a toy for 5,save 3, and donate $2. How much money do you need in total?
$10
$8
$5
$7
You have 12.Youdecidetospend 7 and save the rest. How much do you save?
$5
$7
$12
$19
If a new video game is very popular and stores run out quickly, what does this show about supply and demand?
High demand, low supply
Low demand, high supply
High supply, high demand
Low supply, low demand
A family wants to buy a new car, but there are only a few cars left at the dealership. What is this an example of?
Scarcity
Abundance
Donation
Budget
You are making a map of your classroom. Which elements should you include to help others understand it? (Choose the best answer.)
Title, compass rose, legend, scale, and grid system
Only a title
Only a compass rose
Only a legend
If you earn 15fromchores,spend 5, save 7,anddonate 3, which activity did you spend the most money on?
Saving
Spending
Donating
Earning
You want to create a budget for your 20allowance.Youdecidetosave 8 and spend the rest. How much will you spend?
$12
$8
$20
$28
If a store has a sale and lowers the price of a toy, what might that mean about the supply and demand for the toy?
There is more supply than demand
There is more demand than supply
Supply and demand are equal
There is no supply
Which of the following is an example of scarcity in your school?
Not enough computers for every student
Extra lunch for everyone
Unlimited art supplies
Free books for all
You are given a map with a title, compass rose, legend, scale, and grid system. How would you use these elements to help a new student find the library?
By using the grid system to locate the library and the legend to understand the symbol for the library
By only looking at the title
By ignoring the map elements
By guessing
You have 25.Youwanttobuyabookfor 10, save $10, and donate the rest. How much will you donate? Show your reasoning.
$5
$10
$15
$0
You want to create a budget for a school project. You have 30.Youplantospend 18 on supplies and save the rest for future projects. How much will you save? Explain your answer.
$12
$18
$30
$48
A new video game is released, and everyone wants to buy it, but there are only a few copies in stores. What will likely happen to the price, and why?
The price will go up because demand is high and supply is low
The price will go down because demand is low
The price will stay the same because supply and demand are equal
The price will go down because supply is high
Your class wants to go on a field trip, but there are only 20 seats on the bus and 25 students want to go. What is this an example of, and how could your class solve the problem?
Scarcity; by taking turns or finding another bus
Abundance; by inviting more students
Donation; by giving away seats
Budget; by saving money
These are symbolized by solid circles
Capital
Cities
Farmland
Boundary Lines
These are symbolized by a star.
Capital
Cities
Farmland
Boundary Lines
Pictures on a map are called
poles
symbols
geography
distortion
What does a map show?
Only the locations of different countries
Only the names of your friends
Features such as cities, boundaries, and bodies of water
Only the planets in the solar system
What is a symbol often found on a map to indicate north?
A red dot
A compass rose
A picture of a car
A banana
What is the capital of a country?
The largest city
A type of money
The city where the government is based
A famous landmark
What is a landmark?
A famous or historically significant location or building
A new movie
A type of car
A video game
What is a physical map?
A map that shows locations of gyms
A map that shows physical features like mountains and rivers
A map that only shows cities
A map used by doctors
What is a scale on a map?
A device to weigh things
A musical note
The relationship between the distance on the map and the actual distance on the ground
A type of fish
7) Using money to buy goods and services is called.
A. spending.
B. investing.
C. wanting.
D. saving.
If 8 people want a stuffed animal, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
What is the capital of France?
Berlin
Madrid
Paris
Rome
What role do consumers play in a market economy?
A) They have no influence on the market.
B) They regulate the market through governmental bodies.
C) They determine what products are successful by their purchasing choices.
D) They supply the goods and services.
Which of the following best describes the role of government in a market economy?
A) To control all economic activities and production.
B) To set prices for goods and services.
C) To regulate and oversee the economy to ensure fair practices.
D) To own the major industries and resources.
What is the main advantage of a mixed economic system?
A) It allows for strict government control of all economic activities.
B) It combines the advantages of market and command economic systems.
C) It eliminates the influence of the private sector.
D) It relies solely on consumer demand to guide economic decisions.
How does a market economy primarily determine the distribution of goods?
A) Through government planning and distribution.
B) Based on tradition and elder decisions.
C) Through supply and demand interactions.
D) By a predetermined plan based on historical data.
Which of the following best describes a command economy?
A) An economy where market forces determine what is produced and consumed.
B) An economy where production and pricing are dictated by the government.
C) An economy where individuals make decisions based on their own interests.
D) An economy primarily driven by the decisions of large corporations.
Which of the following is NOT a characteristic of a traditional economy?
Barter trade
Based on agriculture and hunting
High use of technology
Customs and beliefs guide economic decisions
What is a primary characteristic of a traditional economy?
A) High levels of technological innovation.
B) Economic decisions based on customs and beliefs.
C) Rapid economic growth and development.
D) Dominance of service and information sectors.
How does a government in a command economy typically influence its country's economy?
A) By allowing complete freedom of market forces.
B) By making all major economic decisions and controlling resources.
C) By supporting businesses indirectly through subsidies only.
D) By enforcing minimal intervention in economic affairs.
In which type of economy would you most likely find widespread use of bartering?
A) Market economy
B) Command economy
C) Mixed economy
D) Traditional economy
In a mixed economic system, how are decisions about what goods to produce made?
A) Solely by the government.
B) Through a combination of government and individual decisions.
C) Based entirely on consumer demand.
D) By external international bodies.
What is the primary characteristic of a command economy?
Market-based decision making
Government control of production and prices
High levels of competition
Consumer choice
Find the following on this map
title
the legend
the west
What is the purpose of a budget?
To spend as much money as possible
To save all your money
To plan how to spend and save money
To borrow money
What is a budget?
A plan for making and spending money
A list of things you want to buy
A record of money you have saved
A way to calculate your taxes
What is the main purpose of creating a family budget?
To ensure that expenses do not exceed income
To keep track of the number of family members
To calculate how much tax the family should pay
To make sure the family buys everything they want
Why is budgeting important?
It helps you prepare for emergencies
It ensures you always have money to spend
It helps you control your spending and save money
It makes you rich
What is an example of a good budgeting practice?
Spending all your money at once
Saving a portion of your income
Ignoring your expenses
Borrowing money frequently
What is a budget?
A plan for making products
A plan for saving money
A plan for spending and saving money wisely
A plan for borrowing money
Why is budgeting important?
It helps people save money
It allows people to spend more money
It makes things more expensive
It is not important
How does budgeting help a family?
It allows them to spend without tracking
It helps them plan their financial resources and save for future needs
It increases their expenses
It is only useful for businesses, not families
