My Economy: Learn the Basics of Economics for Kindergarteners

Question 1

What do people use money to trade with each other?

Accepted Answer

Goods and services

Answer

Toys

Answer

Candy

Answer

Clothes

Question 2

Your favorite cereal has a sale sign! To decide if you should buy it, what should you check first?

Accepted Answer

See how much the cereal costs now.

Answer

Buy the cereal because it has a sale sign.

Answer

Buy two boxes so you have more cereal.

Question 3

You have extra crayons but need paper. What can you do to get the paper you want?

Accepted Answer

Trade your crayons with a friend for their paper.

Answer

Ask your friend for the paper without giving them anything in return.

Answer

Take the paper from your friend without asking.

Question 4

Have you ever had to decide if you wanted to buy something right away or save your money to buy something else later?

Accepted Answer

Yes, I had to choose between buying a new toy now or saving my money to buy a bigger toy later.

Answer

No, I've never had to make a choice like that.

Answer

I don't remember.

Question 5

How are the things we buy in stores made?

Accepted Answer

They are made in factories and on farms.

Answer

They are found in nature.

Answer

They are all made by hand.

Answer

They are found in the ground.

Question 6

Where can we keep our money safe and make it grow a little bit?

Accepted Answer

A bank

Answer

A grocery store

Answer

A playground

Answer

A barbershop

Question 7

Where was your toy car made? What materials were used to make it? How many people might have been involved in bringing it to you?

Accepted Answer

It was made in China by a team of people using metal, plastic, and rubber.

Answer

It was made in the United States by one person using metal and plastic.

Answer

It was made in my backyard by my dad using wood and glue.

Answer

I don't know.

Question 8

Which of these is something that is not unique to money?

Accepted Answer

Being made of paper

Answer

Buying things

Answer

Showing how much something is worth

Answer

Saving for later

Question 9

How does the government help us?

Accepted Answer

Builds schools and libraries

Accepted Answer

Makes laws to keep us safe

Accepted Answer

Helps people who are sick or have lost their jobs

Answer

Sells shoes and clothes

Question 10

You earned $20 from your lemonade stand. What smart choices can you make with your money?

Accepted Answer

Save some in a piggy bank

Accepted Answer

Give some to a charity

Answer

Spend it all on candy and toys

Answer

Buy a fancy gift for a friend

Question 11

When you have to choose between playing with your friends and helping your mom clean up, what should you think about to make the best decision?

Accepted Answer

Think about what you would rather do and what you would miss out on if you did that.

Answer

Flip a coin.

Answer

Ask your mom to decide.

Answer

Do whatever you want.

Question 12

How does the government building new roads help people living in the country?

Accepted Answer

It makes it easier to travel to work, school, or visit others.

Answer

It gives people more money to spend.

Answer

It makes people healthier.

Question 13

When different countries exchange things they make or do with each other, what is it called?

Accepted Answer

Trading

Answer

Swapping

Answer

Sharing

Question 14

When you have some money, what's a wise thing to do with it?

Accepted Answer

Put some money in a piggy bank to save

Answer

Spend it on anything I want right now

Answer

Give all my money to people I don't know

Answer

Use my money to buy a big toy

Question 15

What do you receive when you visit a barber shop?

Accepted Answer

A haircut

Answer

A book

Answer

A car

Question 16

What helps our economy grow when we buy things at the store?

Accepted Answer

Buying toys and clothes

Answer

Saving money in the bank

Answer

Investing in the stock market

Answer

Getting a loan from the bank

Question 17

What can't money do?

Accepted Answer

Make wishes come true

Answer

Buy toys

Answer

Save for the future

Question 18

Which of these is NOT a way to get money?

Accepted Answer

Getting a free gift

Answer

Working at a job

Answer

Selling something

Answer

Winning a contest

Question 19

Which of these is something you can hold?

Accepted Answer

A book

Answer

A haircut

Answer

A doctor visit

Answer

A hug

Question 20

What kind of money do we use in our country?

Accepted Answer

Dollars

Answer

Euros

Answer

Pounds

Answer

Yen

Question 21

How much is a penny worth?

Accepted Answer

1 cent

Answer

10 cents

Answer

25 cents

Answer

100 cents

Question 22

Which of these is NOT a good way to keep your money safe?

Accepted Answer

Spending it all right away

Answer

Putting it in a piggy bank

Answer

Putting it in a savings account

Answer

Investing it

Question 23

What do we use to buy things?

Accepted Answer

Money

Answer

Toys

Answer

Food

Answer

Books

Question 24

Which of these can you buy with money?

Accepted Answer

A toy

Answer

A hug

Answer

A friend

Answer

A smile

Question 25

Which of these can't you buy with money?

Accepted Answer

A hug

Answer

A banana

Answer

A car

Answer

A toy

Question 26

Who makes the toys you play with?

Accepted Answer

Toymakers

Answer

Teachers

Answer

Doctors

Answer

Police officers

Question 27

Where can you buy many different things?

Accepted Answer

Store

Answer

School

Answer

Library

Answer

Hospital

Question 28

Which of these is a service?

Accepted Answer

A haircut

Answer

A car

Answer

A toy

Answer

A banana

Question 29

What do we call people who buy things from stores?

Accepted Answer

Customers

Answer

Friends

Answer

Teachers

Answer

Students

Question 30

What do we call people who make or provide things for us to buy?

Accepted Answer

Producers

Answer

Customers

Answer

Friends

Answer

Teachers

Question 31

Who makes food and sells it to others?

Accepted Answer

A chef

Answer

A doctor

Answer

A teacher

Answer

A police officer

Question 32

Which is NOT a way to earn money?

Accepted Answer

Helping your neighbor

Answer

Working at a job

Answer

Winning a lottery

Answer

Selling lemonade

Question 33

Where do we buy things?

Accepted Answer

A store

Answer

A library

Answer

A park

Answer

A museum

Question 34

What is something you can't touch, like a haircut?

Accepted Answer

A service

Answer

A toy

Answer

A book

Answer

A car

Question 35

Which coin is the smallest?

Accepted Answer

Penny

Answer

Nickel

Answer

Dime

Answer

Quarter

Question 36

What does 'economy' mean?

Accepted Answer

The way money is used

Answer

The way people live

Answer

The way animals behave

Answer

The way plants grow

Question 37

How can you save money?

Accepted Answer

Putting it in a piggy bank

Answer

Spending it all at once

Answer

Giving it to a friend

Answer

Hiding it under your bed

Question 38

What's the difference between 'needs' and 'wants'?

Accepted Answer

Needs are things we have to have, while wants are things we would like to have.

Answer

Wants are things we have to have, while needs are things we would like to have.

Answer

Needs and wants are the same thing

Answer

I don't know

Question 39

Which of these is a service?

Accepted Answer

A doctor's visit

Answer

A new toy

Answer

A loaf of bread

Answer

A car

Question 40

What is the name of the paper money we use in the United States?

Accepted Answer

Dollars

Answer

Euros

Answer

Pounds

Answer

Yen

Question 41

Which of these is a penny worth?

Accepted Answer

1 cent

Answer

5 cents

Answer

10 cents

Answer

25 cents

Question 42

Where can we exchange money?

Accepted Answer

Bank

Answer

Store

Answer

School

Answer

Park

Question 43

What is a way to earn money?

Accepted Answer

Working

Answer

Saving

Question 44

Why do we need to save money?

Accepted Answer

For future needs

Answer

To buy more things

Question 45

What is a smart way to spend money?

Accepted Answer

Buying only what we need

Answer

Buying only things that make us happy

Question 46

Why do we need to save money for the future?

Accepted Answer

Because it helps us pay for important things like college

Answer

Because our parents want us to

Answer

Because it makes us look good

Answer

Because it's fun

Question 47

If you were selling lemonade at a stand, what factors would you consider when setting the price for each cup?

Accepted Answer

The cost of making the lemonade

Accepted Answer

How much people are willing to pay for it

Accepted Answer

How much profit you want to make

Answer

What your friends charge for their lemonade

Question 48

What does the government use money from taxes to pay for?

Accepted Answer

Schools

Answer

Toys

Answer

Pizza parties

Question 49

When countries trade with each other, what is a good thing that can happen?

Accepted Answer

People in different countries can buy things they can't make themselves.

Answer

Countries have to make all the same things.

Answer

Trading makes countries enemies.

Question 50

What do you have to have to stay alive?

Accepted Answer

Food

Answer

Toy

Answer

Car

Question 51

What helps our economy get bigger?

Accepted Answer

Building new factories

Answer

Going to school

Answer

Playing in the park

Question 52

When people in other countries buy things from the United States, how does that help our country?

Accepted Answer

It brings in more money.

Answer

It makes our leaders happy.

Answer

It helps us make new friends.

Question 53

When we make a lot of toys, does it help the economy grow?

Accepted Answer

Yes, because making more toys creates jobs and helps businesses.

Answer

No, because if we make too many toys, we won't have enough people to buy them all.

Answer

I don't know.

Question 54

How does a machine help us make clothes quickly?

Accepted Answer

It cuts the fabric fast.

Answer

It helps us choose the best color.

Answer

It tells us how much to pay for the clothes.

Answer

It makes the buttons for the clothes.

Question 55

What do businesses consider when choosing what to make or sell?

Accepted Answer

What customers need

Answer

What their friends want

Answer

What they like

Answer

What is easy to make

Question 56

What usually happens to the worth of money over time?

Accepted Answer

It decreases

Answer

It increases

Answer

It remains the same

Question 57

How do we get toys and clothes from other countries?

Accepted Answer

By trading with them

Answer

By asking them nicely

Answer

By taking them without asking

Answer

By writing them a letter

Question 58

What's the best way to use your money wisely?

Accepted Answer

Plan how to spend it carefully

Answer

Spend it all at once

Answer

Keep it hidden

Question 59

What do we use to buy things in stores?

Accepted Answer

Money

Answer

Food

Answer

Toys

Answer

Hugs

Question 60

Where can you buy food for your family?

Accepted Answer

At a store

Answer

At a park

Answer

At a library

Answer

At a zoo

Question 61

How can you earn money?

Accepted Answer

By helping your parents with chores

Answer

By playing with your friends

Answer

By watching TV

Answer

By sleeping

Question 62

What is a 'producer'?

Accepted Answer

Someone who makes things

Answer

Someone who buys things

Answer

Someone who uses things

Answer

Someone who sells things

Question 63

Why is having money helpful?

Accepted Answer

It can help you buy things you need and want

Answer

It can make you popular

Answer

It can give you special powers

Answer

It doesn't help at all

Question 64

When economists say something is 'scarce', what do they mean?

Accepted Answer

There's not enough of it for everyone.

Answer

It costs a lot of money.

Answer

It's a brand-new thing.

Answer

It's made of gold.