Finance Unit - 6th Grade

Question 1

Money has always been the same since the beginning of time.

Accepted Answer

False

Question 2

Next-best alternative given up when a choice is made

Accepted Answer

Opportunity Cost

Question 3

May take 2 months - 3 years to reach goal.

Accepted Answer

Medium Term Goal

Question 4

Overspending is an example of a credit card disadvantage.

Accepted Answer

True

Question 5

Credit is a loan.

Accepted Answer

True

Question 6

Choosing a career should be based on interest, abilities, and demand for workers

Accepted Answer

True

Question 7

Setting goals help people think clearly about the steps needed to reach the goal.

Accepted Answer

True

Question 8

Safest place to save your money...

Accepted Answer

Savings Account

Question 9

Tax imposed by government on income.

Accepted Answer

Income Tax

Question 10

Requires 3 or more years to accomplish this goal.

Accepted Answer

Long Term Goal

Question 11

Credit card is a type of payment.

Accepted Answer

True

Question 12

Tax in which the rate increases as the amount increases.

Accepted Answer

Progressive Tax

Question 13

A person who takes the risk and provides a new or improved good or service

Accepted Answer

Entrepreneur

Question 14

Tax imposed by state/local government on retail sales.

Accepted Answer

Sales Tax

Question 15

Credit cards are a ...

Accepted Answer

Buy Now, Pay Later Method

Question 16

Spending plans help you spend more money than you want.

Accepted Answer

False

Question 17

Plan to help you manage your income and expenses.

Accepted Answer

Spending Plan

Question 18

Less education = higher chance of unemployment

Accepted Answer

True

Question 19

The more education = more money

Accepted Answer

True

Question 20

Currency is a type of payment.

Accepted Answer

True

Question 21

Knowledge, skills, experience, and attitude that help a person do a job better

Accepted Answer

Human Capital

Question 22

Requires fewer than 2 month to reach goal...

Accepted Answer

Short Term Goal

Question 23

Learning Financial Literacy helps prepare for a successful future.

Accepted Answer

True

Question 24

Impulse buying is an example of a credit card disadvantage.

Accepted Answer

True

Finance Unit - 6th Grade

Questions 24

Finance Unit - 6th Grade

Questions 24