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Fifth Grade (Grade 5) Economics Questions

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Grade 5 Economics
In the 1800s, Buffalo, Rochester, and Syracuse greatly increased in population as a result of the building of the
  1. New York State Thruway
  2. Erie Canal
  3. Brooklyn Bridge
Grade 5 Economics
A bus driver, teacher, and dentist are examples of people involved in
  1. selling goods
  2. providing services
  3. making profits
Grade 5 Economics
Give an example of two services that people need or provide.
Grade 5 Economics
Which factor of production is missing from this list: Natural Resources, Capital Resources, Entrepreneurship,                   Human Resources                  .
Grade 5 Economics
Balance: The current amount of         money         in an account.
Grade 5 Economics
A savings account usually earns interest and is often used to hold money that is not needed right away.
  1. True
  2. False
Grade 5 Economics
A checking account is used to pay bills and access funds using checks and debit cards.
  1. True
  2. False
Grade 5 Economics
          endorse           : To write a signature on the back of a check.
Grade 5 Economics
What is scarcity? Give an example
Grade 5 Economics
What is not an example of allocation of goods or services?
  1. sharing equally
  2. specialization
  3. lottery
  4. prices
Grade 5 Economics
                bounced check                : A check that is written for more than the amount of money in a checking account.
Grade 5 Economics
A written record of money put into a checking account.
  1. bounced check
  2. check register
  3. deposit check
  4. net deposit
Grade 5 Economics
What is a region?
Grade 5 Economics
All of these are examples of which factor of production: An accountant's computer, a carpenter's electric drill, money to build factories.
Grade 5 Economics
Every time we buy something, we pay sales tax.
  1. True
  2. False
Grade 5 Economics
If it cost you $2.00 to make a widget and you sell it for $5.00, what would be your profit?
  1. $7.00
  2. $5.00
  3. $3.00
  4. $2.00
Grade 5 Economics
Online banking: A service that allows customers to perform banking activities using the            Internet           .
Grade 5 Economics
                 personal check                 : A check written from a personal checking account.
Grade 5 Economics
Credit card: A        card        that allows the holder to buy goods and services by taking out a bank loan.
Grade 5 Economics
      CFO      : The chief financial officer is responsible for a business's finances.
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