Extra money you pay the bank because they loaned you money.

What does SCARCITY mean?

The demand of a good is HIGHER than the supply.

Which of the following is a PLANNED expense?

Mrs. Clark is able to purchase the new teacher book she's been saving for.

Mr. Tate works for a bank. Which choice will most likely NOT affect the amount of money he is paid by his company?

The number of family members Mr. Williams has.

Which TWO answers are examples of LABOR and INCOME?

Lennox works at her job and earns $45 a day., Lennox makes and sells bracelets for $18 each.

This usually happens happens when the DEMAND of something is HIGHER than the SUPPLY of it:

The price of the good increases.

Money borrowed form the bank you will have to repay.

Which of the following is an UNPLANNED expense?

Jack went into Walmart and decided to buy the first video game he saw.

Why is learning Personal Financial Literacy important?

To know how to make smart money decisions., Because money doesn't grow on trees.

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Personal Financial Literacy 3rd grade

15 termsStudBud Administration178 plays

Colorado State Standards for 3rd Grade literacy

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Questions 15

Answers

1
What is INTEREST?
Extra money you pay the bank because they loaned you money.
Something that catches your attention.
A bank account.
A piece of paper.
2
What is INCOME?
A bank account.
Money you earn.
A paycheck.
A place you can enter.
3
What is an example of a SHORT term savings goal?
A trip to Disneyland
A new video game
A car
A house
4
What happens when you spend all your money on your needs?
The government pays for your wants.
You take out a loan.
Your grandma gives you more money.
You don't get your wants.
5
What does SCARCITY mean?
How much money someone earns.
The demand of a good is HIGHER than the supply.
The demand of a good is LOWER than the supply.
6
What does it mean to WITHDRAWAL money?
To put money in.
To give away your money.
To take money out.
To double your money.
7
Which of the following is a PLANNED expense?
Mrs. Sayen went to Old Navy to buy pants. She bought pants and a shirt.
Mrs. Dwyer bought a new sweater because it was so cute.
Mrs. Clark is able to purchase the new teacher book she's been saving for.
Mrs. Connolly bought a purse with the money she put aside for new shoes.
8
What is an example of a LONG term savings goal?
A house
A new video game
A trip to Disneyland
An ice cream cone
9
Mr. Tate works for a bank. Which choice will most likely NOT affect the amount of money he is paid by his company?
The level of education Mr. Williams has.
The number of family members Mr. Williams has.
The special skills Mr. Williams has relating to his job.
The number of years Mr. Williams has worked for the company.
10
Which TWO answers are examples of LABOR and INCOME?
Lennox works at her job and earns $45 a day.
Lennox gets a $25 cash for her birthday.
Lennox makes and sells bracelets for $18 each.
Lennox buys pair of shoes for $32.
11
Which TWO are examples of EXPENSES?
Getting money as a gift
Electric bill
Groceries
Money earned from working
12
This usually happens happens when the DEMAND of something is HIGHER than the SUPPLY of it:
The price of the good decreases.
The price of the good increases.
The price of the good stays the same.
13
What is a LOAN?
Money borrowed form the bank you will have to repay.
A contest you win.
Money the bank just gives you.
A gift of money.
14
Which of the following is an UNPLANNED expense?
James earned money doing extra chores to pay for the concert tickets.
Jack went into Walmart and decided to buy the first video game he saw.
Knox has been saving his money to buy a new Lego set.
15
Why is learning Personal Financial Literacy important?
So you can eat more ice cream cones.
Because Mrs. Woodard said so.
To know how to make smart money decisions.
Because money doesn't grow on trees.

Personal Financial Literacy 3rd grade Flashcards | StudBud