Want to see correct answers?
Login or join for free!
  Social Studies Worksheets
Looking for Social Studies worksheets?
Check out our pre-made Social Studies worksheets!
Share/Like This Page
Filter By Grade

Fifth Grade (Grade 5) Economics Questions

You can create printable tests and worksheets from these Grade 5 Economics questions! Select one or more questions using the checkboxes above each question. Then click the add selected questions to a test button before moving to another page.

Previous Page 1 of 5 Next
Grade 5 Economics
Hyperinflation, a period where the price of goods increases extremely rapidly, in Hungary after World War II led the country to print a 100 million trillion Pengo note which is the highest denomination note ever issued.
  1. True
  2. False
Grade 5 Economics
Inflation is an increase in the value of currency.
  1. True
  2. False
Grade 5 Economics
In order to maintain a healthy economy, most countries try to keep their inflation rates somewhere between 2 and 3% per year.
  1. True
  2. False
Grade 5 Economics
A way to counteract deflation is to add more money into the economy.
  1. True
  2. False
Grade 5 Economics
Economists use the Consumer Price Index, which is a statistical tool that measures price differences of goods and services over time, to determine if there is a period of inflation or deflation.
  1. True
  2. False
Grade 5 Economics
The best way to end a cycle of deflation is to pause purchases until the prices stop falling.
  1. True
  2. False
Grade 5 Economics
Most economists believe that an inflation rate of zero is best to reduce the possibility of a recession.
  1. True
  2. False
Grade 5 Economics
Inflation can be caused when the rate of money entering the economy is greater than that of the economy's growth.
  1. True
  2. False
Grade 5 Economics
Deflation benefits people in debt.
  1. True
  2. False
Grade 5 Economics
Deflation reduces the cost of goods or services.
  1. True
  2. False
Grade 5 Economics
Deflation typically occurs when the supply for a good or service is higher than its demand.
  1. True
  2. False
Grade 5 Economics
A product that is brought into a country to be sold is called an import.
  1. True
  2. False
Grade 5 Economics
The money remaining after the costs of a business have been paid is called:
  1. Debit
  2. Profit
  3. Cash Crop
  4. Coupons
Grade 5 Economics
The amount of money it takes to make a good or provide a service is called an           expense                         .
Grade 5 Economics
Items brought into a country are called
  1. exports
  2. goods
  3. imports
  4. services
Grade 5 Economics
The money people earn for their work.
  1. deposit ticket
  2. endorse
  3. income
  4. personal check
Grade 5 Economics
            Producers                            make goods or provide services.
Grade 5 Economics
How much of a good or service is wanted is called          demand                        .
Grade 5 Economics
The amount of a good or service available is called          supply                        .
Grade 5 Economics
         Profit                         is the amount of money a producer keeps after paying expenses.
Previous Page 1 of 5 Next
You need to have at least 5 reputation to vote a question down. Learn How To Earn Badges.