19 questions
Which of these examples is a service?
Mr. Farr sells guitars.
Mr. Swenson gives art supplies to consumers.
Coach provides lessons for different sports.
Ms. Miller writes books.
Jenny has hundreds of stuffed animals to sell. The stuffed animals are considered the _________.
supply
demand
buyer
seller
Why would a business want to spend their money to invent new items?
They can save money
They will fix broken items
They can buy cool goods
They can make new goods to sell
Tyler wants to help homeless people. He decides to get friends together to put together boxes with supplies in them. Tyler and his friends then give the supply boxes to people in need. What are they doing?
They are spending the supplies.
They are donating the supplies.
They are earning the supplies.
They are borrowing supplies.
What is supply?
the amount of an item you have
how many people want your good/service
the money you have left over after you paid your bills
none of these
What is demand?
the amount of an item you have
how many people want your good/service
the money you have left over after you paid your bills
none of these
What is profit?
the money you have left over after you paid your bills
how many people want your good/service
the amount of an item you have
none of these
What does it mean when you save money?
You buy a new outfit.
You put money away for later.
You invent a new good.
You give money to help animals.
Opal saved money in the bank. From doing this, she earned _______.
Interest
Invest
Some companies _______ in inventions that will help them compete with other companies.
Interest
Invest
Apple saved some of their money to create the new iPhone X. This choice means Apple _______ in their company.
Interest
Invest
Ms. Miller put $200 into her account, but now she has $230. This is because of ______.
Interest
Invest
Which of the following will increase your profit for selling hot chocolate?
Use expensive materials
Lower the price
Give each buyer more hot chocolate
Use cheaper materials
Money that you put in a savings account______.
can never be spent
can earn interest
will be stolen
is going to be donated
Which of these is a way that a business can use its money wisely/invest in their business?
It can use more expensive resources.
It can invent new goods.
It can buy machines to make goods.
All of the above
iPhone X just came out and many people want it. What will happen to the price?
A new bakery comes to town. Now there are more options for a bakery. What will happen to the price?
For the market, Opal is selling brownies. Dyamonde is also selling brownies. What will happen to the price?
Halloween is almost here! The supply of candy is going down. What will happen to the price?