Study

6th Grade Economy

  •   0%
  •  0     0     0

      Back   Restart
  • Why is tourism good for the economy?
    people spend money on different services, and it creates jobs
  • What are the three types of consumer expenses?
    fixed, variable and unexpected
  • True/False: Unexpected expenses are irregular expenses that you cannot predict
    True
  • What does "borrow" mean?
    It means to use or take for a period of time but will return eventually
  • Before there was money, there was....
    bartering/exchanging of goods
  • What does "deposit" mean?
    put something somewhere for safe keeping, (deposit money into a bank)
  • What activities did Spanish people do in the primary sector?
    livestock, and crop farming
  • What money do we use in present day?
    Flat money
  • What does a bank charge you if you use a credit card?
    interest
  • Where did people put their coins?
    Into a bank
  • Who are all the people who are unable to work called?
    Inactive population
  • What is it called when you deposit money and use it later?
    saving
  • Are volunteers part of the group of unpaid workers?
    Yes!
  • What is the unemployed population actively looking for?
    They are looking for work
  • People who are older and no longer work are called what?
    retired
  • What did many cultures use to exchange ?
    cattle/grain
  • What place/modern day counry did the first coins appear in?
    The Kingdom of Lydia (modern day Turkey)
  • True/False: Fixed expenses are different every month.
    False/ They are the SAME every month
  • What is an example of money in the future?
    plastic money(credit cards)/online shopping
  • What percentage does tourism account for Spain's total income?
    11%
  • 100 years ago in Spain most people in Spain lived in _________
    villages
  • What was one issue with exchanging goods?
    goods could lose value/ animals could get old or die/cereals could spoil
  • Who determines how much coins and banknotes are worth?
    Governments
  • What was the first form of money?
    animals skins/salt/shells
  • What are variable expenses?
    They are not always the same every month and we can only estimate their total cost
  • What is the third source of income in Spain's economy?
    Tourism
  • Why was the systems of coins not perfect?
    They were very heavy to carry and people often stole them
  • What ages do the active population include?
    ages 16 to 67
  • What does the word "flourish" mean?
    develop quickly
  • In what age did the bank notes first appear?
    Modern Age
  • At first, people in Spain worked in the _________ sector
    primary
  • What is a "loan"?
    a thing that is borrowed, like a sum of money
  • What is an example of unpaid workers?
    Parents that stay at home to take care of the house and raise their children
  • In exchange for coins, what did banks give people?
    receipts in the form of a piece of paper
  • What is 1 example of fixed expenses?
    food/petrol/household bills
  • What are volunteers?
    People that help society in their free time
  • What were the first coins made of?
    Gold and silver
  • Who are the people that carry out very important activities in society and don't receive any pay?
    unpaid workers
  • What are the two means of payment?
    Cash and Credit
  • True/False: You use cash to make large purchases.
    False
    • Your experience on this site will be improved by allowing cookies.