Ameritowne

1.

1 point

Nick has a $10.00 balance in his checking account. He deposits $20.00 and writes a check for $40.00 to buy some new shoes. How much money does Nick now have in his checking account?

$40.00

$10.00

Overdrawn by $10.00

$30.00

2.

1 point

There is always risk involved while investing.

True

False

3.

1 point

The prices for products in AmeriTowne are determined by _______________.

Cost of supplies

Cost of advertising.

Salaries

Supply and demand for items

4.

1 point

The study of the ways people produce, distribute and consume goods and services is the definition of:

economics

entrepreneur

investment

5.

1 point

Which of the following is an example of a service:

A jewelry store sells a bracelet

A clothing store sells a T-shirt

A bank cashes a check for an account holder

A bookstore sells a book.

6.

1 point

What is one way a bank earns a profit?

By making coins

By making loans

By paying interest on savings accounts

7.

1 point

People who go to the store to buy things are called?

Producers

Employes

Providers

Consumers

8.

1 point

Savings accounts are used to save money, earn interest and write checks.

False

True

9.

1 point

Donna deposits $25 into her checking account. She then writes a check for $11.00. What is the balance in her checking account?

$13

$25

$14

$36

10.

1 point

For a business to be successful, it is important to know ______________.

Which goods were popular a long time ago.

What consumers want to buy and how much they are willing to spend.

11.

1 point

If bad weather causes most of the orange trees to die, the price of orange juice will probably rise.

True

False

12.

1 point

Which situation would probably cause the price of candy to be lowest?

Only one shop sells candy

Two shops sell candy

Salaries are increased

Candy is for sale in four different shops

13.

1 point

Which business provides goods to consumers?

A doctor

A grocery store

A computer technician

A hair stylist

14.

1 point

Your check register shows you have a checking account balance of $5.00. You have $2.00 in cash. You may _______________.

Pay $3.00 cash to buy cookie.

Write a check to the containers shop for $ 7.00 to buy a briefcase.

Write a check to the snack shop for a drink and chips for $6.00

Write a check for $5.00 to the sign and print shop for a bottle of magic ink

15.

1 point

A business makes a profit when _________________________.

it makes more money than it spends.

it has a $100.00 balance in its checking account.

it sells all of its products

expenses are greater than income

16.

1 point

John is working in the Snack Shop. He has seven customers who want to buy cookies. He has only four cookies left. What should John do?

Rase the price so fewer people will want them.

Lower the price so more people can buy the cookies.

Spend more money on advertising.

Do nothing