YIW Grades 3-5 PRE/POST TEST
10 Questions
1. Juan put his money in a savings account. The payment that the bank makes to Juan for the use of his money while it is deposited at the bank is called:
a. interest
b. wages
c. credit
d. profit
2. Shawna got $20 for her birthday. She wants either to save her money for a radio or spend it on a shirt. If she buys the shirt, saving for the radio is her:
a. expense
b. revenue
c. human capital
d. opportunity cost
3. Ming wanted to buy a fancy notebook for school and save her money to buy a computer. Ming decided to buy a plain notebook that is less expensive so she can save more money for the computer. Ming’s decision is an example of:
a. paying interest
b. depositing money
c. making a tradeoff
d. choosing a service
4. Duane earned $25 raking leaves. He spent $20 of the $25 on a video game. The $5 that he didn not spend is called his:
a. interest
b. savings
c. profit
d. wage
5. Marisa had $50 in her checking account. She made a withdrawal of $10 and a deposit of $20. What is Marisa’s balance in her checking account?
a. $10
b. $20
c. $50
d. $60
6. A reward or penalty for how people behave is:
a. a tradeoff
b. an incentive
c. an opportunity cost
d. an economic rent
7. Janis wants to save $75 for a CD player. She plans to save $5 a month. What else does Janis need in her savings plan?
a. a checking account
b. a certificate of deposit
c. the number of stores selling CD players
d. the number of months that she must save
8. Scott plans to save the same amount of money each week for 10 weeks to buy his mom a $30 necklace. How much should Scott save each week?
a. $1
b. $2
c. $3
d. $4
9. The best example of a long-term goal would be saving for:
a. a video game
b. a birthday present
c. a college education
d. pair of basketball shoes
10. Owning a share of a company’s stock means you:
a. owe money to the company
b. owe money to your parents
c. own equity in the company
d. own your parents
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