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FINANCIAL LITERACY Flashcards | StudBud
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FINANCIAL LITERACY
FINANCIAL LITERACY
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Financial Literacy
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
_________resources are the physical, intellectual, and creative talents of people.
Scarce
Human
Capital
Natural
2
People gain when they trade_________.
voluntarily
opportunity
in economic systems
non voluntarily
3
People's choices have________for the future.
answers
special things
fortune
consequences
4
Job searchers often send an_________.
IPhone
application
apple
answer
5
People respond to______in predictable ways.
incentives
opportunity
debt
cost
6
What you own minus what you owe is called your______.
wealth
debt
savings
health
7
A_______is a summary of your work related experiences.
job search
contract
resume
application
8
You can lower your__burden by using pretax dollars to invest and pay for things like insurance.
tax
scarce
want
need
9
Unlimited wants with limited resources is called_____.
wealth
savings
scarcity
banks
10
All choices involve____.
saving
banks
debt
cost
11
If an employer is interested in you they may give you an_______.
task
mop
interview
hand shake
12
The next best choice is called the_______cost.
other
higher
opportunity
lower
13
Most millionaires are_____________,
college dropouts
college graduates
freakish
dumb
14
Gifts of nature are called______resources.
natural
money resources
college resources
capital resources
15
The government collects_____from your pay.
income
needs
tariffs
taxes
16
The money a person receives in exchange for work or property is called_______.
wants and needs
scarcity
income
taxes
17
Economically speaking all people have the power to______.
fly
run
jump
choose
18
______pay is the amount of money a worker makes before taxes are taken out.
Gross
Sick
Total
Net
19
The amount of money left after all taxes are taken out is called_____pay.
total
net
gross
sick
20
Because of scarcity we must make_____.
trucks
choices
banks
cars
21
Money is a medium of_________.
trade
exchange
debt
banks
22
People who start their own business and work for themselves are called______.
entrepeneurs
super stars
go getters
flat liners
23
There is no such thing as a ________.
free dinner
expensive dinner
expensive lunch
free lunch
24
________resources include those goods that are used to make other goods and services
Natural
Capital
Banking
Human
25
People create economic_______that influence choices and incentives.
answers
systems
frameworks
solutions