Duplicate of Financial Literacy Third Grade

Question 1

Abundance vs Scarcity

Accepted Answer

Scarcity: Prices will be higher, Abundance: Prices will be lower

Question 2

Money that must be repaid to the bank with interest.

Accepted Answer

Loan

Question 3

Things a person has to have to stay alive

Accepted Answer

Needs

Question 4

Taking money out of a bank account.

Accepted Answer

Withdrawal

Question 5

Money you pay when you borrow money.

Accepted Answer

Interest

Question 6

The action of helping or doing work for someone

Accepted Answer

Services

Question 7

Using money to pay for a good or service.

Accepted Answer

Spend

Question 8

To give away money or goods for a good cause.

Accepted Answer

Donate

Question 9

Not having enough of a resource.

Accepted Answer

Scarcity

Question 10

Paying for goods or services you do not expect, can be large and unexpected.

Accepted Answer

Unplanned Spending

Question 11

Money given to someone with a promise to pay back.

Accepted Answer

Loan

Question 12

A way to buy something and pay for it later

Accepted Answer

Credit

Question 13

This is an example of: ___________________________

Accepted Answer

scarcity

Question 14

Money received from doing work, or gained as profit.

Accepted Answer

Income

Question 15

Bank account to put money aside to use in the future.

Accepted Answer

Savings Account

Question 16

Why people donate to charity?

Accepted Answer

All of the above

Question 17

Giving money to help others

Accepted Answer

Charity

Question 18

Examples to have good credit.

Accepted Answer

All of the above

Question 19

Paying money for goods or services you expect.

Accepted Answer

Planned Spending

Question 20

A job that requires more training is likely to:

Accepted Answer

Pay higher wage

Questions 20