Test
Economic choices practice
This 5th-grade worksheet helps students practice understanding economic choices by answering questions about budgets, saving, spending, and opportunity cost. They identify examples, reasons for budgeting, and sequence steps in creating a budget.
By Edform · Social studies and civics · Grade 5 · Published Oct 15, 2026 · New
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Questions
- Which of the following is an example of an opportunity cost?
- Which of these are good reasons for making a budget? (Choose all that apply)
- What do we call a person who buys goods or services?
- Put these steps for making a budget in the correct order.
- Fill in the blank with the best word: The money you choose not to spend now, but keep for later, is called ___.
- Choose the correct word: A person who makes or grows goods to sell is a ___.
- Decide if each statement about spending and saving is true or false.
- Sort each example as a 'Producer' or 'Consumer'.
- Match each term with its correct definition.
- If you have $20 and spend $12 on a book, how much money do you have left?
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