What do these 7th grade economics and money worksheets cover?

20 printable 7th grade economics and money worksheets in 5 skill sets, in the order they appear on this page: personal finance; needs, wants and choices; economic systems; taxes and what they fund; and supply and demand.

What is the difference between gross pay and net pay?

Gross pay is earnings before deductions, and net pay is what is left after taxes and other deductions are taken out. Pay Stub Deductions and Net Pay uses a sample stub with federal and state tax, Social Security and Medicare.

How do supply and demand set a price?

The price where the quantity buyers want equals the quantity sellers offer is the equilibrium. A price above it leaves a surplus, and a price below it leaves a shortage. Shortage and Surplus From a Market Table labels each price on a sneaker market.

What is the difference between progressive and regressive taxes?

A progressive tax takes a larger percent of income as income rises, and a regressive tax takes a smaller percent. A proportional tax takes the same percent from everyone. Progressive, Regressive and Proportional Taxes has students calculate the percents and classify each rule.

How do you calculate inflation?

Build a price index by dividing a basket's cost this year by its cost in a base year and multiplying by 100. The inflation rate is the percent change in the index. Inflation, CPI and Purchasing Power uses a sample basket and asks about real change.

7th Grade Economics and Money Worksheets

Ages 12-13 · 5 sub-topics · Free previews · Print-ready PDFs

Economics is the study of how people and societies use limited resources to meet their needs and wants. There are 20 worksheets for 7th grade, each with an answer key, on personal finance, scarcity and choices, economic systems, taxes and supply and demand. Pay Stub Deductions and Net Pay, Graphing Shifts in Supply and Demand and Inflation, CPI and Purchasing Power are three of the sheets. Native sheets here practice D2.Eco.1.6-8.

Written by Adi Ackerman, Head Teacher