Lesson 11: Using Money Wisely Quiz

Type your name below.

1. Peter saved money in a bank. The money he saved earned _________________.

• interest
• invest

2. Fixing a broken machine is a wise way a business can _________________.

• interest
• invest

3. If you save money, you are ________________.

• setting it aside for later
• using it on the things you want now
• inventing new machines
• buying expensive toys

4. Money that you put in a savings account _________.

• earns interest
• is gone forever
• can't be taken out
• is put in a piggy bank

5. Which of the following is a way that a business can use its money wisely?

• It can use more expensive resources.
• It can buy machines that make goods.
• It can decide NOT to fix things that are broken.
• It can buy lunch daily for all the employees.

6. Why do businesses spend money to invent things?

• to save money for later
• to put money in the bank
• to help fix broken machines
• to make new and better goods to sell

7. Piggy banks are used to save large amounts of money.

• True
• False

8. Businesses can choose to spend LESS money by choosing different resources to use

• True
• False

9. Money that you work for by doing chores or other jobs is money that you invent.

• True
• False