1. Name at least two things financial planning could help you do. (0.5 points)
Create a budget and make choices about how to spend money responsibly. 2. What is trade? (0.5 points)
The exchange of things in value 3. What is a service? (0.5 points)
What something is worth to someone 4. Name one of the three functions of money. (0.5 points)
Money is used as a medium of exchange. 5. The real estate market is categorized in which way? (0.5 points)
Markets are often categorized by both commodity and geographic location, such as the SouthWestern real estate market or the U.S stock market 6. What is a country’s GDP? (0.5 points)
The value of the goods and services produced in that country Lesson 2 (3.0 points) 1. What is a market economy? (0.5 points)
An economic system that is regulated by the interactions between producers and consumers 2. Name at least two features of capitalism. (1.0 points)
Capitalism is a system in which private individuals can own businesses and goods and in which production. It is also called a free enterprise system 3. A business that sells watches that are more inexpensive than the watches a competitor sells is using which type of competition? (0.5 points)
Private Sector 4. What is a monopoly? (0.5 points)
Without government regulation, certain private businesses may become too powerful and make it hard for others to compete 5. What is a motive? (0.5 points)
Motive is a reason for doing something Lesson 3 (3.0 points) 1. What
