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BHS Financial Literacy Final Flashcards | StudBud
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BHS Financial Literacy Final
The person to whom a check has been written is called
A cover letter is a
BHS Financial Literacy Final
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#FinancialLiteracy #BHS
Flashcards
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Answers
1
A cover letter is a
a brief summary of experience and qualifications
an outline of your personal history
an outline of your life
a letter of application you send to a potential employer
2
The person to whom a check has been written is called
The Payer
The Drawee
The Payee
The Drawer
3
Consumers
are the suppliers of goods and services
are the producers of goods and services
are the buyers of goods and services
are the ones that make goods and services
4
Consumers let producers know what they are interested in buying through
Demand graphs
Supply graphs
Equilibrium
Dollar votes
5
The Profit Motive is
the desire to work to provide goods and services
the desire to work for money
the desire to sleep in on weekends
the desire to work for personal satisfaction
6
A Mechanic would be an example of a
White collar, service job
White collar, manufacturing job
Blue collar, service job
Blue collar, manufacturing job
7
Purchasing Power
The amount of goods and services you can buy
The quality of goods you can buy
The types of services you can buy
The amount of goods you can produce
8
An example of a want
Food
A brand new sports car
Water
Shelter
9
A "WHITE COLLAR" worker
Someone who only wears white shirts
works outside or in an industrial setting
works with people and information in an office setting
a person that works with his/her hands
10
Identity Thieves...
Steal from the rich to give to the poor
Create malware
Work for the police to Identify thieves
Buy things online using the other people's card information
11
A characteristic of the Business writing style...
Concise
You can use abbreviations and slang
It is very lengthy
Verbose
12
When writing a check, why do you need to write the amount in number AND words?
You don't have to. Just pick one way and stick with it.
It prevents people from changing the amount of the check.
It helps keep you organized
It is an Ohio law
13
Identify Opportunity Cost: You can get either a set new phone or a TV. You get the phone.
TV
Phone
Going to Walmart is costly enough
There is no opportunity cost in this example
14
An example of a white collar job would be
a doctor
ALL of these are white collar jobs
an accountant
a teacher
15
Scarcity forces people to
work their entire life
Save all of their money
Spend all of their money
Make choices on how to use their resources
16
What is a Letterhead?
A type of writing style
A Business Letter format
A report format for school that requires double spacing
section at top that contains your contact information
17
Opportunity Cost is
What you gain by giving something up
The amount of money you have to pay for something
What you give up in order to gain something else
None of these
18
Malware
it steals and shares information from your computer
can defend your computer against viruses
any program that will cause damage to your computer
is a type of software
19
A resume is
a letter of application for a job
an outline of your personal history
a summary of your professional experience and qualifications
a personal biography
20
What is a natural resource?
a tool, like a hammer
A machine used to make a good or provide a service
a person that creates something for you
something from nature used to make a good
21
Which of the following is a name for our economic system?
Closed Market System
Free Market System
Limited Market System
All of these
22
A service is
Something that uses only uses capital resources
An intangible task that someone performs for you
Something manufactured in a factory
A Tangible item that someone makes for you
23
Which of the following are unlimited?
Natural Resources
Needs
Wants
Resources
24
An example of a Capital resource most likely used at a bakery...
Dough
Oven
Cookies
Water
25
Why is it important to keep your phone/device protected?
Someone may look at your text messages
The information on your phone could lead to Identity Theft
You don't want people to put fingerprints on your screen
Someone may steal your pictures
26
A want is
Something necessary to survive
Shelter
Something that makes life nicer, but you can live without
Things like food, water, shelter, etc.
27
Identity Thieves can obtain personal information
using High-Tech methods like hacking into your accounts
ALL OF THESE
looking over your shoulder at the checkout--Shoulder Surfing
going through garbage (Dumpster Diving)
28
A natural physical or mental ability that allows you to do certain things well
Identity
Value
Superhuman or Meta-human technology
Aptitude
29
A Good
Something that is done well
Something that only requires Natural Resources to make
Is something tangible that someone makes
An intangible task that someone performs
30
The difference between a job and a career is
A Job is long term while a Career is short term
A Career is long term, a job is short term
A job does fulfill a life goal
A career does NOT fulfill a life goal
31
Your personal record of check book transactions is called
a notebook
a passbook
a bank statement
A checkbook register
32
If you lose your phone...
Just buy a new one, you needed an upgrade anyway
Set the phone to autodestruct
There is no way to track your phone...sorry
use FindMyIphone or the Android Device Manager to find it
33
Competition is important in Capitalism because
It keeps the demand for goods high
It ONLY keeps the supply low
It lowers the supply of goods and services
It keeps prices low and also improves the quality.
34
Research about a possible career that show all of the positive and negative things is called
Career Planning
Personality assessment
a personal assessment
Value assessment
35
What characteristic of Academic Writing?
Verbose
Concise
Spelling Doesn't Matter
Length Doesn't Matter
