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BizTown - Modules 1 & 2

Quiz by Ann Piper

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16 questions
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  • Q1
    Which of the following is a financial institution?
    museum
    library
    Bank
    credit card
    30s
  • Q2
    Which service is a bank or credit union NOT likely to offer?
    products to purchase
    debit card
    checking account
    savings account
    30s
  • Q3
    When is depositing money into an account, it is important to:
    include your account number
    thank the teller
    sign your deposit ticket
    swipe your credit card
    30s
  • Q4
    The amount left over from your pay after taxes and deductions is called:
    gross balance
    transaction
    net balance
    net pay
    30s
  • Q5
    You can continue to write checks as long as you have checks in your checkbook.
    False
    True
    30s
  • Q6
    all bank transactions should be recorded in the register.
    True
    False
    30s
  • Q7
    A direct deposit is when you take your paycheck directly to the bank after you receive it.
    False
    True
    30s
  • Q8
    credit cards and debit cards are essentially the same thing.
    True
    False
    30s
  • Q9
    Which best describes the circular flow of the economy"
    Happens only in a resource market
    The flow between businesses and resources
    The exchange of money, goods, and services in an economy
    Happens only in a goods and services market
    30s
  • Q10
    Which is not true of public goods and services?
    Shared by everyone - sometimes at the same time
    Must be paid by someone
    No one is prevented from using them
    Only given to the needy
    30s
  • Q11
    Which is NOT a basic economic question faced by an economy?
    What to produce?
    For whom to produce?
    How to produce?
    How much to charge?
    30s
  • Q12
    Who pays for public goods and services?
    Philanthropists
    Government
    Taxpayers
    Only people who use them
    30s
  • Q13
    A free enterprise economy is a system in which economic decisions are made in markets by consumers and businesses.
    False
    True
    30s
  • Q14
    Due to scarcity, people cannot have all of the things they want.
    True
    False
    30s
  • Q15
    Businesses produce goods and services for citizens, who in turn supply labor and other resources to the businesses.
    False
    True
    30s

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