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General Financial literacy Flashcards | StudBud
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General Financial literacy
General Financial literacy
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Flashcards
30 cards
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Questions
30
Answers
1
Someone who purchases goods & services for personal use is called a
consumer
producer
purcahser
2
The two things that all businesses MUST do before expanding is
Planning & Budgeting
Planning & Marketing
Budgeting & Marketing
3
If a price of one of our export falls the economic effect can be felt through
increase in wages, rise in motor vehicle registration
decrease in tax , rise in wages
increase in tax , raised in motor vehicle registration, tobacco.
4
The role of the stockmarket is to
exchange currency
facilitates the transfer of funds between investors and businesses,
to make profit
5
Productivity is defined as
The quantity of goods & services produced from each hour of time worked
The total outcome produced
The quantity of goods & services produced in a year
6
In New Zealand we all pay GST
False
True
7
All of our life we are Consumers
False
True
8
New Zealand Economy can be affected by something that happenned overseas
True
False
9
Someone who producers goods & services for consumers is a
consumer
producer
purchaser
10
In financial literacy Interest paid is
what we pay to friends for food
what we like to buy
the amount you pay for borrowing
11
If your New Zealand $1 can give you $0.95 Australian dollars, your NZ $1 is said to be
stronger than its Australian counterpart
weaker than its Australian counterpart
12
Savings involve putting money aside on a regular basis
True
False
13
You can only buy shares from the stockmarket
True
False
14
The features of money are;
changeable/portable
durability, portability, divisibility, limited supply, and acceptability.
15
When the price of goods increase the demand usually
decrease
increase as well
stay the same
16
Economic decisions have to be made earlier to counter events that happenned overseas to avoid major depression
False
True
17
Unemployment is when you are
fully employed
part -time work
without work
18
Everyone that earns a wages/salaries pay tax called PAYE
False
True
19
Personal budget is defined as
financial plan that allocates future income toward expenses, savings & debt
planning for holiday money
planing for savings
20
The Finance Minister for any governments has this responsibility
looks for money for the government
prints money for governement
talks to other ministries about spending money
managing the budget, taxes, and funding for programs
21
If you market a product with its specific features for example an iphone 12 & then sells an Iphone 7 is in breach of
Fair Trading Act 1986
Tax Administration Act 1984
Consumer Guarantees Act 1993
22
Globalisation is about
monetarising issues with global big spenders
working with some countries about economic issues
working inclusively with countries around global
23
New Zealand's biggest company is
Warehouse
Fonterra
Harvey Norman
24
If you mislead a consumer via cheap advertising or false packaging you are in breach of
Fair Trading Act 1986
Consumer Guarantees Act 1993
Tax Administration Act 1984
25
Recession is define as
a period of declining income & rising unemployment
a period of rising income & rising unemployment
a period of declining income & declining unemployment
26
The difference between a consumer and producer is
Consumers use goods while producers produce goods
Consumers produce goods while producers supply goods
Consumers supply goods and producers use goods
27
Fair Trading Act requires producers/businesses to
work together and monopolised their own industries
not mislead or deceive consumers
charge consumers the prices that they think charge
28
Money and Income
money is dollars and cents and income the total we receive
money is not earned and income is money earned on regular basis
Money is a medium of exchange & Income is what we earn on regular basis
29
Kaitaia is located
South Isalnd of NZ
North Island of NZ
a village in Niue
30
Mostly to many the main reason to budget is
to be able to buy a nice car
to give money to friends
To stay out of financial trouble
