Test Topic 1: Economics and Money

• Economie
• Middelbare school
• havo
• Leerjaar 2

TEST

Topic 1: Economics and Money

Give an example of a primary need

Give an example of a secondary need

Amy has a disability and receives a benefit from the government. She is not able to work every day of the week, but she works part-time as a secretary. With her work she earns her salary.

What can you conclude about her income? Choose the best description.

1. She receives a benefit, but that doesn’t count as income
2. Her total income is the salary she earns
3. She has a disability, so she doesn’t receive an income
4. Her income includes her salary and her benefit

What are sources of income?

1. Income from work
2. Income from your own company
3. Benefits
4. Incidental income

What are daily expenses?

1. An overview of your income and expenses
2. Expenses which occur regularly
3. Expenses for groceries
4. Expenses that don't occur regularly

Explain what incidental expenses are.

Calculate the income that is necessary to pay for all the expenses per month.

On his savings account Brendan got € 1 400.
After one year he receives € 35. interest. What percentage interest did Brendan receive?

In which way can drawing a budget help people by fixing their money issues? Explain your answer.

What are examples of bank money?

1. Credit card
2. Debit card
3. Banknotes
4. Cheques

What are examples of cash money?

1. Paying with authorisation
2. 50 euro banknote
3. 10 eurocent coin
4. Debit card

Nichola is a student in havo3, during her summer vacation she works at an H&M-shop in Breda.
Per hour Nichola earns € 5 gross income (a). Her net income is € 4.50 per hour (b),
this results in: 40 hours of work: 40 × € 4.50 = € 180 (c) per week.
From her income she will put € 150 in her savings account (d). The rest of her income she spends on going out (e). She saves for a car that she wants to buy in 3 months. The car that she wants to buy is on the market for € 1 000 (f).

De function at (c) is ........ en at (d) is ........ .

1. c = exchange function and d = saving function
2. c = calculation function and d = saving function
3. c = saving function and d = saving function
4. c = exchange function and d = exchange function

What are the two main reasons why people save money?

Which organisation is in charge of the Euro?

1. The World Bank
2. The ING
3. The European Central Bank
4. The Nederlandsche Bank

Incidental expenses

Daily expenses

Fixed costs

Gas

Bread

A new bike

Chocolate sprinkles

Netflix subscription

Furniture

Kithcen repairs

Road taxes

Rent

Esmee receives 1.3% interest on her savings account. At this moment her savings are € 1 798.-
Calculate the interest that Esmee will receive after one year.

In the first half of the year Julia has got € 520 on her savings account. In the second half of the year only € 390. She receives 0.9% interest.
Calculate the interest that Julia will receive this year.

The inhabitants of Hungary have a total income of € 121 billion. Hungary has 9.8 million inhabitants.
Calculate the average income per Hungarian inhabitant.

Give an example of a free good

Give an example of a scarce good

A whole amount of Euros you can write in the following three ways: € 5. € 5.00 or € 5.-

1. Right
2. Wrong

The amount of your credit is called your balance.

1. Right
2. Wrong

The biggest part of payment transactions are with cash.

1. Right
2. Wrong

One of the three main tasks of the DNB is price stability.

1. Right
2. Wrong

On her hairdryer Melissa got a discount of 5%. She now only has to pay € 39.90. Calculate the price of the hairdryer without the discount.

Roos is shopping and sees a lovely sweater. Right now they are having a sale: all clothes with 33% discount. Normally the sweater costs € 39.50. She pays with a note of 20 euro and a note of 10 euro. How much change will she receive at the register/till?

Child-

benfit

Unemployment-

benefit

Receive 

the rent

Interest

Profit

Income in kind

Salary

You receive 0.2% interest on your savings account

Business owner

You receive a christmas package from work

Employer at an administration office

House owner

A single mother

A man without a job

Jenna borrowed € 240 from her friend Rose. After five months she pays back € 260 like they agreed.
What percentage of interest did Jenna paid? Round your answer off to one decimal place.

End of Test

Theme 1