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Gr 6 Finance Unit Review Flashcards | StudBud
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Gr 6 Finance Unit Review
Gr 6 Finance Unit Review
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This is used to review the Financial Literacy Unit for 6th grade.
Flashcards
27 cards
F
Practice quiz
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Host live
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Questions
27
Answers
1
Money has always been the same since the beginning of time.
False
True
2
Overspending is an example of a credit card disadvantage.
True
False
3
Plan to help you manage your income and expenses.
Spreadsheets
Opportunity Cost
Spending Plan/ Budget
4
Credit is a loan.
True
False
5
Currency is a type of payment.
True
False
6
Credit card is a type of payment.
False
True
7
Setting goals help people think clearly about the steps needed to reach the goal.
True
False
8
Impulse buying is an example of a credit card disadvantage.
False
True
9
You spend less than you earn.
Living Paycheck to Paycheck
Living Within Your Means
10
Safest place to save your money...
Home
Financial Institution
11
Choosing a career should be based on interest, abilities, and demand for workers
False
True
12
Tax imposed by government on income.
Sales Tax
Income Tax
Progressive Tax
Flat Tax
13
Tax imposed by state/local government on retail sales.
Flat Tax
Income Tax
Progressive Tax
Sales Tax
14
You should never break a long-term goal into multiple short-term goals.
True
False
15
Spending plans help you spend more money than you want.
True
False
16
Venmo is a type of payment.
True
False
17
Requires fewer than 2 month to reach goal...
Medium Term Goal
Long Term Goal
Short Term Goal
18
The more education = more money you earn
False
True
19
May take 2 months - 3 years to reach goal.
Long Term Goal
Short Term Goal
Medium Term Goal
20
Next-best alternative given up when a choice is made
Human Capital
Opportunity Cost
Entrepreneur
21
Requires 3 or more years to accomplish this goal.
Short Term Goal
Long Term Goal
Medium Term Goal
22
Checks are not connected to an account.
True
False
23
A person who takes the risk and provides a new or improved good or service
Human Capital
Opportunity Cost
Entrepreneur
24
Credit cards are a ...
Buy Now, Pay Later Method
Buy Now, Pay Now Method
25
Less education = higher chance of unemployment
False
True
26
Tax in which the rate increases as the amount increases.
Sales Tax
Income Tax
Flat Tax
Progressive Tax
27
Knowledge, skills, experience, and attitude that help a person do a job better
Opportunity Cost
Human Capital
Entrepreneur
