Directions: Please circle the correct response.
1. Which of the following best describes a community?
A. a system of spending, saving and investing
B. a place where people live, work, trade and share
C. a democracy with free enterprise
D. a democracy with free enterprise and philanthropy
2. Which of the following is the best definition of market?
A. a place where people find work, even if they are already working at some business
B. trading money for goods and services instead of using a barter system
C. system for exchanging goods, services and resources between people and businesses
D. A physical location where businesses sell goods and services and people buy them
3. Karen took her savings and began a business to make customized scooters. This best describes the economic
freedom to:
A. buy goods and services
B. own property
C. invest in a business
D. choose how to work
4. Which of the following is NOT an example of a public good or service?
A. roads and bridges
B. automobile insurance
C. police protection
D. city park
5. An institution developed to increase the well-being of others is called a:
A. market.
B. resource.
C. capital improvement.
D. nonprofit organization.
Directions: Please give written response.
6. You received a $25 gift certificate. You went to a department store and saw a book, a shirt, and a game that you
wanted. Each sold for $25. What is your opportunity costs and how did you come to this conclusion?
Version - June2015
Directions: Please give written response.
7. You received a $25 gift certificate. You went to a department store and saw a book, a shirt, and a game that you
wanted. Each sold for $25. What is your opportunity costs and how did you come to this conclusion?
8. Why is Mark’s net deposit amount different from his paycheck amount?
NAME:
Mark Hill
CASH
CHECKS
June 4, 2015
DATE
6 0
0
1 0
0
5 0
0
CHECKS FROM
OTHER SIDE
Mark Hill
DEPOSITS MAY NOT BE AVAILABE FOR IMMEDIATE WITHDRAWAL
SUBTOTAL
SIGN HERE IF CASH RECEIVED FROM DEPOSIT
Bank of America
LESS CASH
RECEIVED
Enterprise Village
[:000 000:]
12345678
NET DEPOSIT
19606:]
ACCOUNT NUMBER
132
Version - June2015
Walt’s
Western World
Enterprise Village Branch
123-555-5688
03/25/2015…………………..2:15 PM
574-5842
Leather Belt
Brown
T
$ 2.99
subtotal
T=FL/Pinellas Tax 7.0000% on 9.99
$ 2.99
.21
Total
$3.20
*6891 debit total payment
Receipt ID # 1248:54864
$3.20
4426
9. Where did Mark make a purchase?
10. How much did he spend?
11. Record his purchase in the register, then calculate Mark’s new balance.
Record all charges or credits that affect your account
Number
Date
3/14
Transaction Description
Deposit
Payment / Debit
Fee
Deposit / Credit
(+)
+ 5 00
Balance
$
0.00
+ 5 00
5 00
Version - June2015
Directions: Please give written response.
12. _______________________________________________________________
13. _______________________________________________________________
14. _______________________________________________________________
15. _______________________________________________________________
32
12
1234 5654 7845 6521
33
13
EXPIRES
David W. Golacky
24-Hour Customer Service
14
Wtä|w jA ZÉÄtv~ç 6521
304
15
Interlink
Version - June2015
Directions: Please circle the correct response.
ANSWER KEY
1. Which of the following best describes a community?
A. a system of spending, saving and investing
B. a place where people live, work, trade and share
C. a democracy with free enterprise
D. a democracy with free enterprise and philanthropy
2. Which of the following is the best definition of market?
A. a place where people find work, even if they are already working at some business
B. trading money for goods and services instead of using a barter system
C. system for exchanging goods, services and resources between people and businesses
D. A physical location where businesses sell goods and services and people buy them
3. Karen took her savings and began a business to make customized scooters. This best describes the economic
freedom to:
A. buy goods and services
B. own property
C. invest in a business
D. choose how to work
4. Which of the following is NOT an example of a public good or service?
A. roads and bridges
B. automobile insurance
C. police protection
D. city park
5. An institution developed to increase the well-being of others is called a:
A. market.
B. resource.
C. capital improvement.
D. nonprofit organization.
Directions: Please give written response.
6. You received a $25 gift certificate. You went to a department store and saw a book, a shirt, and a game that you
wanted. Each sold for $25. What is your opportunity costs and how did you come to this conclusion?
Answers may vary. The opportunity cost is the game and shirt because I decided to purchase the book.
Version - June2015
ANSWER KEY
Directions: Please give written response.
7. You received a $25 gift certificate. You went to a department store and saw a book, a shirt, and a game that you
wanted. Each sold for $25. What is your opportunity costs and how did you come to this conclusion?
Business cost is the amount of money it cost to successfully run your business, while profit is the amount of
money you make after all business costs.
NAME:
Mark Hill
CASH
CHECKS
8. Why
net
June 4, 2015
DATE
0
CHECKS FROM
OTHER SIDE
Mark Hill
DEPOSITS MAY NOT BE AVAILABE FOR IMMEDIATE WITHDRAWAL
SUBTOTAL
SIGN HERE IF CASH RECEIVED FROM DEPOSIT
differ-
6 0
Bank of America
LESS CASH
RECEIVED
Enterprise Village
[:000 000:]
12345678
NET DEPOSIT
19606:]
ACCOUNT NUMBER
1 0
0
5 0
0
is Mark’s
deposit
amount
ent from his
paycheck
amount?
132
Mark’s net deposit is different because, he is requesting $1.00 cash back during this transaction.,
Version - June2015
ANSWER KEY
Walt’s
Western World
Enterprise Village Branch
123-555-5688
03/25/2015…………………..2:15 PM
574-5842
Leather Belt
Brown
T
$ 2.99
subtotal
T=FL/Pinellas Tax 7.0000% on 9.99
$ 2.99
.21
Total
$3.20
*6891 debit total payment
Receipt ID # 1248:54864
$3.20
4426
9. Where did Mark make a purchase?
Walt’s Western World
10. How much did he spend?
$3.20
11. Record his purchase in the register, then calculate Mark’s new balance.
Record all charges or credits that affect your account
Number
Date
3/14
Transaction Description
Payment / Debit
Deposit
Fee
Deposit / Credit
(+)
+ 5 00
Balance
$
0.00
+ 5 00
5 00
3/25
Walt’s Western World
- 3 20
- 3 20
1 80
Version - June2015
ANSWER KEY
Directions: Please give written response.
debit card number
12. _______________________________________________________________
expiration date
13. ___________________________________________________________
signature bar
14. _______________________________________________________________
card verification value
15. _______________________________________________________________
32
12
1234 5654 7845 6521
33
13
EXPIRES
David W. Golacky
24-Hour Customer Service
14
Wtä|w jA ZÉÄtv~ç 6521
304
15
Interlink
Version - June2015