Questions & Answers
Browse all 18 questions from the
Introduction to Basic Economics study set below.
Each question shows the correct answer — select a study format above to practice interactively.
1
What do people use to buy things they want and need?
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A
Toys
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B
Money
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C
Clothes
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D
Food
2
When you give something you have to get something else you want, what is this called?
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A
Saving
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B
Borrowing
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C
Trading
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D
Donating
3
What do we call the work people do to earn money?
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A
Playing
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B
Sleeping
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C
A Job
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D
Eating
4
When you put money away for later, what are you doing?
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A
Spending
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B
Saving
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C
Lending
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D
Wasting
5
What is it called when you use your money to buy things?
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A
Saving
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B
Earning
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C
Spending
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D
Sharing
6
Why do people work?
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A
To play games
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B
To earn money
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C
To watch TV
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D
To sleep
7
What is a place where you can buy food and other items?
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A
A park
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B
A school
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C
A shop
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D
A library
8
If you have more money than you need for today, what can you do with the extra money?
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A
Throw it away
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B
Spend it all
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C
Save it for the future
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D
Give it to strangers
9
What do businesses make and sell to customers?
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A
Problems
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B
Goods and services
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C
Empty boxes
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D
Noise
10
What are things that people make or grow called?
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A
Services
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B
Wants
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C
Needs
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D
Goods
11
What do we call it when someone helps you, like a doctor or a teacher?
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A
A good
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B
A need
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C
A service
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D
A want
12
What is something you must have to live, like food and water?
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A
A toy
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B
A game
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C
A need
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D
A wish
13
What is something you would like to have but do not need to live, like a new video game?
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A
A need
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B
A want
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C
Food
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D
Water
14
When many people want to buy something, but there is not much of it, what happens to the price?
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A
It goes down
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B
It stays the same
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C
It goes up
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D
It disappears
15
What is the money a person earns from their job called?
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A
A loan
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B
An expense
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C
Income
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D
A debt
16
What is a place where people can keep their money safe?
-
A
A playground
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B
A cinema
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C
A bank
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D
A school
17
What do farmers grow that people eat?
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A
Cars
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B
Houses
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C
Crops
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D
Shoes
18
What do we call the things that companies make that we can touch, like a book or a ball?
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A
Services
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B
Wants
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C
Goods
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D
Needs
