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UNIT 5 - ECONOMY Flashcards | StudBud
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UNIT 5 - ECONOMY
UNIT 5 - ECONOMY
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1
A mortgage is an example of an essential expense.
True
False
2
Which of these is an example of savings?
a money box
investments
a salary
a pension
3
Which of these is an example of a non-essential expense?
food and clothes
Electricity, gas and water bills
Entertainment and going out
transportation
4
Which of these is NOT an example of INCOME?
pension
salary
benefits
electricity bill
5
When people borrow money from a bank, what market do they use?
job market
credit market
goods and services market
stock market
6
The cost of borrowing money is called...
taxes
credit
interest rate
a budget
7
What is an example of a company acting responsibly and ethically?
reducing waste and emissions
increasing carbon footprint
increasing production
make more money each year
8
Workers in Spain have a right to privacy and paid holidays.
False
True
9
Someone who buys something is also called...
a spender
a consumer
a worker
a citizen
10
What is the economy?
It's all the money that exists.
It's the way people earn and spend money on goods and services.
It's the way in which workers receive a reward for working.
It's and effect of supply and demand.
11
Why do prices change?
Because of the changes in taxes.
Because of the changes in goods and services.
Because of the changes in supply and demand.
Companies choose the price they want.
12
Income are the things you spend money on.
True
False
13
Expenses are the money you receive from different sources.
True
False
14
Which market controls workers' salaries?
credit market
job market
financial market
goods and services market
15
What does the law of supply and demand control?
prices and salaries
goods and services
benefits and pensions
companies and shares
16
How can you organise your finances?
Open a bank account.
Put your money in a piggy bank.
Create a personal budget.
Ask your parents to keep your money.
17
How are public services and goods paid for?
with a collective fund made up of the taxes people pay the government
with pensions
with the money of the citizens' salaries
they are free for everyone
18
If there is more supply than demand, prices are...
very high
normal
low
high
19
If there is more demand than supply, prices are...
normal
low
very low
high
20
Article 35 of the Spanish constitution says that all Spaniards have the duty and the right to work
True
False
