Earning, Saving, & Spending

Quiz
•
Social Studies
•
3rd Grade
•
Medium
Ryan Tompkins
Used 21+ times
FREE Resource
16 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to save money?
So you can sell more lemonade than your friends.
So you can see the new movie before anyone else.
So you will have it in case you need it in the future.
So you can buy everything you want right now.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are households an important part of Louisiana's economy?
Households lend money to people who want to start a business.
Households provide services to tourists who visit our state.
Households buy many goods and services.
Households make and sell many kinds of goods and services.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the definition of profit?
the decision to trade goods with other countries
the money a business has left over after all its cost are paid
the amount of good or service that people want and can pay for
the decision to spend money instead of saving it
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is opportunity cost?
the use of tools and ideas to solve problems
What you give up when you choose one thing instead another.
the amount of product that producers want to sell
a decision to buy one thing instead another
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does competition between stores affect the price of goods?
It usually causes prices to be lower
It usually causes prices to be higher.
It really has no effect at all on the economy.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_________ often lend people money to buy homes or start businesses.
Consumers
Producers
Households
Banks
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is it called when you get something, such as money, from working?
save
budget
earn
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