To pay out or disburse assets for goods or services

What is Opportunity Cost?

The loss of something when an alternative is chosen

What is Financial Fraud?

Deception involving financial transactions for personal gain

A desire for something non-essential

What is Financial Literacy?

Knowledge to make decisions with your financial resources.

Forcasting Income and Expenses, The process of creating a plan to spend your money, The process of creating a plan to save your money

What is the time value of money?

Money now is worth more than that same amount late

In terms of fraud, what is a red flag?

Mail that varies from normal and asks for your info

Money left over after expenses are deducted from income

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Financial Literacy Session 1 Quiz

18 termsStudBud Administration47 plays

FIN LIT

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Questions 18

Answers

1
What is Spending?
Marketing communication using messages to promote a product
To pay out or disburse assets for goods or services
A snack that smiles back
Deferred consumption
2
What is Opportunity Cost?
Something accepted as payment for goods and services
A payment
A person's role in society
The loss of something when an alternative is chosen
3
We try to spend:
Hot
Smart
Dumb
Cold
4
What is Financial Fraud?
Alexandria Ocasio-Cortez's Tax Plan
Deception involving financial transactions for personal gain
Actively looking for employment, but not being employed.
Seizing the means of production
5
What is a want?
To require something because it is essential for survival
Air
A desire for something non-essential
A strain or heavy demand
6
What is Financial Literacy?
When money, is owed by one party to a second party
Area of production, trade and consumption of goods/services
Knowledge to make decisions with your financial resources.
A financial charge by a governmental organization
7
What is Budgeting?
Forcasting Income and Expenses
Harvey's makes a hamburger a beautiful thing
The process of creating a plan to spend your money
The process of creating a plan to save your money
8
What is a good credit/debit card code?
1835
4321
7777
1234
9
Is Trump a "self made" man?
Maybe
Yes
Unicorn
No
10
You should:
spend more than you earn
Not spend more than you earn
spend nothing
spend 100% of your income
11
Which do you need?
Food
Camer
Netflix
Video Game ie. Fortnite
12
It is recommended you save at least what percent of your income:
15%
-50%
10%
0%
13
What are the names of the student-teachers?
Derin, Tim, Evan
Evan, Derin, Caleb
Auston, Gavin, Caleb
Caleb, Evan, Obama,
14
What is the time value of money?
Money now is worth more than that same amount late
Communism
Capitalism
Money later is more valuable than the same amount now
15
In terms of fraud, what is a red flag?
Cloth oblong or square, attachable by one edge to a pole
A red material used as a warning of danger or bulls
Shamwow
Mail that varies from normal and asks for your info
16
Method of budgeting:
Playing Fortnite
Minecraft
Phone apps
Microsoft excel
17
What is Saving?
A system of rules that are created and enforced
GOD. FAMILY. FOOTBALL.
Process of facilitating learning/acquisition of knowledge
Money left over after expenses are deducted from income
18
People save to:
make kahoots
Retire
Work 24-7
Have no money

Financial Literacy Session 1 Quiz Flashcards | StudBud