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15
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What happens when people save money instead of spending it?
Businesses stop selling goods
They can’t buy anything ever again
They lose all their money
They have money for emergencies or future purposes
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15
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Which is not a productive resource?
Capital
Scarcity
Human
Natural
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15
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What is opportunity cost?
The cost of a lost opportunity
The next best thing you give up when you make a choice
The price of goods in a store
The total amount of money in a budget
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15
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How do entrepreneurs make a profit?
By spending more than they earn
By giving everything away for free
By selling goods and services for more than they cost to pro
By saving all their money in a bank
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15
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What is an entrepreneur?
A worker who does not take risks
Someone who only buys products but never sells them
A person who starts and runs a business
Someone who works for a large company
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15
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Why do businesses compete with each other?
To lose money on purpose
To get more customers and increase profits
To avoid selling anything
To make their products worse
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15
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What is the purpose of taxes?
To give people free money
To stop people from spending money
To pay only for businesses to make more money
To provide public goods and services like schools and roads
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15
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Which of the following is a public good or service?
A restaurant
A shopping mall
A fire department
A grocery store
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thief
Give points!
5
10
15
20
25
×
shark
Other team loses 25 points!
Okay!
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fairy
Take points!
5
10
15
20
25
×
lifesaver
Give 20 points!
Oops!
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heart
Other team wins 10 points!
Oops!
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seesaw
Swap points!
Okay!
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rocket
Go to first place!
Okay!
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baam
Lose 25 points!
Oops!
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boom
Lose 50 points!
Oops!
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gift
Win 25 points!
Okay!
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shark
Other team loses 25 points!
Okay!
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lifesaver
Give 25 points!
Oops!
15
×
What is interdependence in economics?
Buying and selling the same product
People and businesses depend on each other.
People working only for themselves
People and businesses rely on each other.
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15
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What is the role of a consumer in the economy?
To produce and sell goods
To buy and use goods and services
To make laws about money
To collect money without spending it
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15
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Why do people specialize in different jobs?
To be able to do every job at once
So they don’t have to work with others
Because they don’t like trying new things
To become more skilled and efficient at one type of work
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trap
No points!
Oops!
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fairy
Take points!
5
10
15
20
25
×
rocket
Go to first place!
Okay!
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banana
Go to last place!
Oops!
15
×
How do price incentives affect people’s choices?
Prices don’t influence anyone’s decisions
Businesses never change their prices
People only buy things that are expensive
People are more likely to buy something if it’s on sale
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