Personal Financial Literacy

Question 1

Which of the following is a NEED?

Accepted Answer

all of the above

Question 2

Taking out a loan to buy a new car is an example of...

Accepted Answer

credit

Question 3

The same item abundance from question 4 would probably have a _________ price.

Accepted Answer

low

Question 4

When you need to borrow money to pay for something, you are using...

Accepted Answer

credit

Question 5

When you purchase things from a store, you are a...

Accepted Answer

consumer

Question 6

When there is an abundance of a good, the items supply is

Accepted Answer

high

Question 7

Setting $50 aside each month to buy a new washing machine is an example of...

Accepted Answer

saving

Question 8

Which of these is an example of unexpected spending?

Accepted Answer

repairing your car

Question 9

Collecting and donating money to a local animal shelter is an example of....

Accepted Answer

giving

Question 10

When there is not enough of a resource, that resource is...

Accepted Answer

scarce

Question 11

A college graduate would probably make __ money than someone with a high school diploma

Accepted Answer

more

Question 12

When you buy something on credit, the lender may require you to pay ________.

Accepted Answer

interest

Questions 12