JA Final Test

1.

1 point

Jackson got a $25 gift card. He went to the store and saw a book, shirt, and a game that he wanted. Each sold for $25. Jackson liked the book the best, then the game, and then the shirt. He chose the book. What was his opportunity cost?

the shirt

the book

the game and the shirt

the game

2.

1 point

Gina wrote a check from her account. Last week, the bank called her a bout a bounced check. What does that mean?

She wrote the check with a date of a previous month.

She wrote the check for the incorrect amount.

She was supposed to get cash instead of writing a check.

She didn't have enough balance in her checking account.

3.

1 point

Which of the following best describes a citizenship right for the individual?

Colin gave an unpopular speech about peer pressure

Rachel volunteered to clean up the roadside by her school

Darrion spent 15 extra minutes on his work break

Margaret had to finish her homework before she went to bed

4.

1 point

To which career type does a teacher best demonstrate?

people

ideas

things

data

5.

1 point

The amount an employee earns BEFORE taxes are deducted is called:

net deposit

pre-tax pay

gross pay

net pay

6.

1 point

Why can't people have everything they want?

They don't have enough money.

They have to pay taxes.

They don't work hard enough.

Resources are limited.

7.

1 point

When completing a check register, where do you enter a withdrawal from your account?

net deposit

subtotal

deposit/credit

payment/debit

8.

1 point

Karen took her savings and began a business to make customized scooters. This best describes the economic freedom to:

buy goods and services

invest in a business

own property

choose how to work

9.

1 point

Jin sold 30 hot dogs for $1.00 each, and she had expenses of $24. What is Jin's profit?

$6

$30

$24

Zero; she didn't earn a profit.

10.

1 point

The circular flow of economic activity is:

the flow of imports and exports

a model of the movement of goods, services, resources, and money in an economy

how businesses sell goods and services

how people trade using barter

11.

1 point

Which of the following is NOT an example of a public good or service?

auto insurance

roads and bridges

city park

police protection

12.

1 point

Which is the best definition of market?

a place where people find work, even if they are already working at some business

a physical location where businesses sell goods and services and people buy them

trading money for goods and services instead of using a barter system

system for exchanging goods, services, and resources between people and businesses

13.

1 point

Which of the following is a capital resource?

land

oil

factory

truck driver

14.

1 point

An institution developed to increase the well-being of others is called a:

capital improvement

nonprofit organization

market

resouce

15.

1 point

Which of the following is an example of an entrepreneur?

someone who pay off a bank loan

someone who works in a STEM career

Someone who designs and successfully markets a listening device

someone who sells more burgers that anyone else

16.

1 point

Which of the following best describes a community?

a system of spending, saving, and investing

a place where people live, work, trade, and share

a democracy with free enterprise

a democracy with free enterprise and philanthropy

17.

1 point

Liam thinks he is ready to be an effective employee. He knows it important to arrive at work on time, dress appropriately, and treat customers with respect. What type of skills has Liam worked hard to develop?

negotiation skills

soft skills

conflict resolution

interests

18.

1 point

The person that hires one or more people, usually for a salary, is called the:

CFO

entrepreneur

employee

employer

19.

1 point

The part of a paycheck that gives the employee a record of pay and payroll deductions is called the:

register

net pay

deposit

pay stub

20.

1 point

Taxes are:

payments for goods and services

required payments to the government

payments for business operations

payments for philanthropy