Money and Business Basics

Sample Questions

1. Question: What is money mainly used for?

   Answer: To buy things people need or want.

2. Question: How do people usually get money?

   Answer: By working or providing something valuable to others.

3. Question: Which of the following is a need?

   Answer: Food

4. Question: Wants are things required for living and staying healthy.

   Answer: True

5. Question: Why is saving money important?

   Answer: Because people may need money later for bigger goals or unexpected situations.

6. Question: What are the three ways to divide money?

   Answer: Spend, save, and share or give

7. Question: What is a business?

   Answer: An activity where people provide goods or services to others in exchange for money.

8. Question: If a lemonade stand makes $20 and costs $10, what is the profit?

   Answer: $10

9. Question: An entrepreneur is someone who starts and runs a business.

   Answer: True

10. Question: What does creating value mean in business?

    Answer: Giving people something useful, enjoyable, or helpful.