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Personal Finance Vocab Quiz Flashcards | StudBud
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Personal Finance Vocab Quiz
Personal Finance Vocab Quiz
12 terms
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StudBud Administration
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A quiz including terms used in personal finance as taught to 7th grade
Flashcards
12 cards
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Practice quiz
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Questions
12
Answers
1
What is the definition of demand?
The amount of goods a consumer wishes to purchase
The amount of services bought in one day
The amount of services bought in one year
The amount of goods a consumer purchases
2
What is the definition of exchange rate?
The value of an item of food compared to its dollar worth
The value of one currency compared to another
How many candy bars you have to sell to go to summer camp
The value of a dollar
3
What is the definition of interest?
The cost of money; you can earn interest in a saving account
What you get when you so something really awesome
The buildup of mold in your kitchen sink
The amount of money in your bank account
4
What is the definition of liabilities?
Amount others owe to you
Amounts you owe to others
How much your insurance will cover if you get hurt
How much money a good is worth
5
What is the definition of supply?
The number of consumers in a store
How much food you have in case of a zombie apocalypse
Number of services bought in an area
Quantity of goods available for purchase
6
What is the definition of debt?
A sum of money due to someone
How much money the government owes you
How much money someone owes you
How much money you owe the government
7
What is the definition of a service?
An item of value that is bought and sold
How well the economy is doing
Actions that give economic benifit
A business
8
What is the definition of wages?
A bet on a football game
Income you receive from working
Illegal bets
When you are in debt to someone
9
What is the definition of budget
How much money is in your bank account
The value of one currency compared to another
A plan on how to spend or save your money
What you need when you max out your credit card(s)
10
What is the definition of annual salary?
The amount of money someone makes in a year
When you earn your pay at work
How many salads you eat in a year
The amount of money someone makes in a day
11
What is the definition of income?
The money in your bank account
When you step into your house
Payments earned by selling or renting something of worth
Payments that go to the bank
12
What is the definition of consumers?
Goods and services who purchase people
People who eat a lot
The number of goods a consumer can buy
People who purchase goods and services
