
TCI L11 Economy Quiz
Quiz by Aubrey Morello
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- Q1
1. What do we call the money earned just by keeping money in the bank?
interest
invest
300s - Q2
Businesses often _____________. They could do this by paying to fix a broken machine.
invest
interest
300s - Q3
What does it mean to SAVE money?
spending it on things you want now
buying expensive toys
inventing new machines
setting money aside for later
300s - Q4
If you put money in a savings account in the bank, what happens to it?
It earns interest.
It can't be taken out.
The bank puts it in a piggy bank.
It is gone forever.
300s - Q5
Which is NOT a way a business can use money wisely?
It can use cheaper resources.
It can buy machines that make goods faster.
It can fix broken machines.
It can buy lunch for all of its workers.
300s - Q6
If it costs money to invent new ways to do things, why do businesses do this?
To run out of money
To make new and better goods to sell
To be the poorest business
To win science contests
300s - Q7
True or False: If I have saved a few coins, I should open a bank account.
False, bank accounts are for larger amounts of money.
True, bank accounts can be for less than $1.
300s - Q8
True or False: Businesses will spend more money if they choose different resources to use.
False: Businesses can choose cheaper resources and spend less money.
True: If a business changes its resources, it will spend more money.
300s - Q9
True or False: Money that you earn by doing chores is interest.
False, interest is money a bank gives you when you have an account.
True, Parents give their kids interest for doing chores.
300s - Q10
True or False: There are only two options with money you've earned: spend it or save it.
False: There are other things you can do that are not spending or saving.
True: Buying and donating are ways to spend and investing is a way to save.
300s