Money and Incentives Quiz

5th Grade Social StudiesEconomics5 pages

About this worksheet

Ten questions over 5 pages check what 5th grade students know about money and incentives. Section 1 has four multiple-choice items on bartering, the problem of finding a match, and money as a medium of exchange. Section 2 gives four scenarios to mark as positive or negative incentives, such as a 25-cent library fine and a pizza punch card. Section 3 asks for two written answers, about a baker in a town with no money and a city that wants more recycling. It covers C3 Framework indicators D2.Eco.5.3-5 and D2.Eco.2.3-5, with an answer key.

Page 1 of 5

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Curriculum objectives covered

D2.Eco.5.3-5

โ€œExplain the role of money in making exchange easier.โ€

Section 1 and question 9, where students explain how money removes the need to find a shoemaker or woodchopper who wants bread.

D2.Eco.2.3-5

โ€œIdentify positive and negative incentives that influence the decisions people make.โ€

Questions 5 to 8 and question 10, which ask students to sort fines and rewards and then design incentives for recycling.

What's inside this worksheet

Money and Exchange

Four multiple-choice questions. In question 4 a student offers an old skateboard for a video game, and the class picks why money makes that exchange easier.

Positive and Negative Incentives

Students tick Positive or Negative for four cases and explain why. They include a $5,000 fine for a factory that dumps chemicals in a river and 10 extra minutes of recess for finishing chores.

Think About It

Question 9 asks why a baker who needs shoes, firewood, and a blanket would struggle to barter. Question 10 asks students to advise the mayor on one positive and one negative incentive for recycling plastic bottles.

How teachers use it

Unit quiz

Give this after the barter and incentives lessons. Sections 1 and 2 grade quickly, and Section 3 shows who can apply the ideas.

Watch question 8

The recess reward depends on the whole class. Some students call it negative because they fear losing recess, so ask them to focus on what is being offered.

Retake option

For a retake, reuse question 10 on its own. Change the problem to littering or late homework and ask for a new pair of incentives.

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