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Study Questions 1

Instructions
Save the file in your Finance folder, and name it with Study, the section number, and your first initial and last name. For example, Jessie Robinson's study questions for Section 1 would be named Study1JRobinson.
Answer the questions for each lesson on the same day that you read the lesson. Save the file before closing it each day. Then turn in your answers to the study questions at the end of the section. Review Lesson 4 of the Course Overview for instructions about turning in your study questions.
Section 1 Study Questions (9.0 points)
Answer each question fully. Complete sentences are not necessary.
Lesson 1 (3.0 points) 1. Name at least two things financial planning could help you do. (0.5 points)
Set financial goals
Create a budget

2. What is trade? (0.5 points)
It is the exchange of things of value.

3. What is a service? (0.5 points) It is something of value that a person can do for other people, such as babysitting, tutoring, or landscaping.

4. Name one of the three functions of money. (0.5 points)
Medium of Exchange
Store of Value
Unit of Account

5. The real estate market is categorized in which way? (0.5 points) By Commodity

6. What is a country’s GDP? (0.5 points)
It is one of the most common ways to measure a country's economy. A country's gross domestic product.

Lesson 2 (3.0 points) 1. What is a market economy? (0.5 points)
Market economy is an economy that relies chiefly on market forces to allocate goods and resources and to determine prices.

2. Name at least two features of capitalism. (1.0 points)
Two examples of capitalism is profit and exploitation.

3. A business that sells watches that