Economics

Which term below is another word for the economics term "entrepreneur"?

• employee

• home owner

• business owner

• student

One service banks offer is in the form of loans it makes available to its customers. When a bank makes a loan, where does most of that money come from?

• the bank vault

• other customers

• the government

• other companies

What is an advantage of having a checking account with a bank?

• Your money is safer there than it would be if you kept it at home.

• You must have at least $5,000 in your accounts at all times.

• Your money earns large amounts of interest there.

• You are not allowed to access your money for at least six months.

What are incentives?

• the cost of decisions

• the consequences of negative actions

• motivators or reasons for doing something

• the value in dollars of goods and services

What is the primary role of businesses in providing goods and services?

• to use natural resources in protecting the environment

• to hire more employees

• to provide resources to customers to make their own goods and services

• to produce and distribute goods and services that satisfy a public need or demand

How do most people make their primary income?

• getting loans from banks

• earning wages from work

• receiving assistance from government

• accepting gifts from family members

What is the word for what a bank charges customers for borrowing money?

• collateral

• pension

• interest

• savings

Which of the following is NOT an example of a service?

• haircut

• oil change

• clothes

• house cleaning

Which of the following is NOT an example of a good?

• guitar lessons

• shampoo

• gasoline

• clothes

How do households affect the economy?

• provide labor

• drive demand based on their preferences

• all of the above