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3rd Financial Literacy 1 Flashcards | StudBud
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3rd Financial Literacy 1
3rd Financial Literacy 1
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3.9 A- Human Capital and Income 3.9 B- Scarcity and Costs #financialliteracy
Flashcards
13 cards
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Practice quiz
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Questions
13
Answers
1
Materials in financial literacy are ...
Things we need in school to do well
What we need for a science experiment
Spongebob
Resources and supplies needed for the production of goods.
2
Demand
The consumer's interest & willingness to pay for a service.
Money set-aside for future use.
Physical or mental work done in return for a wage.
3
What is Interest?
Fees owed for borrowing money or buying with credit
Money set aside for future use a financial plan
Cookies
4
Money set aside for future use
Dab
Budget
Savings
Interest
5
Increase means
Go Down
Stay the same
Go Up
Go up and down
6
Supply
The amount of a good or service available to consumers.
Resources and supplies needed for the productions of goods.
The consumer's interest & willingness to pay for a service.
7
What is Income?
Skills, abilities, or education that make workers valuable
Money Earned for working or selling goods/property
Physical or mental work done in return for a wage
8
If goods are not available readily to make a product- will the product...
Stay the same
Decrease in Price
Increase in price?
9
Demand is greater than the amount of goods that can be produced because of limited resources.
Demand
Scarcity
Supply
10
Skills, abilities, or education that make workers valuable is called...
Human Capital
Labor
Credit
11
Credit is ....
A financial plan
Money borrowed that must be paid back to a lender
Money you win from a lottery
Money that is borrowed for free
12
A financial plan that includes estimated expenses and income
Justin Bieber
Budget
Income
Credit
13
What is Labor?
The management of a person's money.
Physical or mental work done in return for a wage.
Money set aside for future use.
