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3rd Financial Literacy 1 Flashcards | StudBud
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3rd Financial Literacy 1
3rd Financial Literacy 1
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3.9 A- Human Capital and Income 3.9 B- Scarcity and Costs #financialliteracy
Flashcards
13 cards
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Practice quiz
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Questions
13
Answers
1
Money set aside for future use
Dab
Budget
Savings
Interest
2
Increase means
Go Up
Stay the same
Go Down
Go up and down
3
Demand is greater than the amount of goods that can be produced because of limited resources.
Supply
Scarcity
Demand
4
Skills, abilities, or education that make workers valuable is called...
Credit
Labor
Human Capital
5
Credit is ....
Money you win from a lottery
Money that is borrowed for free
A financial plan
Money borrowed that must be paid back to a lender
6
A financial plan that includes estimated expenses and income
Credit
Income
Justin Bieber
Budget
7
What is Income?
Money Earned for working or selling goods/property
Physical or mental work done in return for a wage
Skills, abilities, or education that make workers valuable
8
Demand
The consumer's interest & willingness to pay for a service.
Money set-aside for future use.
Physical or mental work done in return for a wage.
9
What is Interest?
Money set aside for future use a financial plan
Cookies
Fees owed for borrowing money or buying with credit
10
If goods are not available readily to make a product- will the product...
Increase in price?
Stay the same
Decrease in Price
11
Materials in financial literacy are ...
Spongebob
Resources and supplies needed for the production of goods.
What we need for a science experiment
Things we need in school to do well
12
Supply
The consumer's interest & willingness to pay for a service.
Resources and supplies needed for the productions of goods.
The amount of a good or service available to consumers.
13
What is Labor?
Physical or mental work done in return for a wage.
The management of a person's money.
Money set aside for future use.
