Unit 5 Test Review

Look at Maria’s budget above. How is Maria earning money?

• By providing services for others

• By earning interest on her savings

• By selling goods to her customers

Look at Maria’s budget above. How much money should Maria have for savings?

• $1.00

• $2.00

• $4.00

Many people earn money working at a job. Another way to earn money is by —

• buying new things at the store

• volunteering for a charity group

• keeping money in a savings account

If the demand for a product is low, what will the seller most likely do?

• Lower the price

• Raise the price

• Keep the price the same

Which expense would the students baking cookies for a school bake sale most likely have?

• Wages for the workers

• Ingredients for the cookies

• Rent for the school building

Some students baked cookies for the school bake sale fundraiser. This is an example of —

• donating

• consuming

• spending

If a man buys a pair of shoes for $15.00 and sells them for $20.00 he will make a —

• profit

• service

• donation

The jobs listed above are examples of ways to earn money by —

• selling a product

• providing services

• saving for college

A popular book arrived in stores this morning. The books sold so fast that many people did not get to buy one. More copies are going to arrive in a few days. If there are still not enough books what is likely to happen?

• The price of the books could go up.

• People will not want to buy the book.

• The cost to make the books could increase.

If a store manager has to lower the price of a product, what will happen to his profits?

• They will decrease

• They will increase

• They will stay the same