Scarcity forces people to

Make choices on how to use their resources

An example of a white collar job would be

ALL of these are white collar jobs

Buy things online using the other people's card information

The amount of goods and services you can buy

a letter of application you send to a potential employer

What you give up in order to gain something else

Competition is important in Capitalism because

It keeps prices low and also improves the quality.

A "WHITE COLLAR" worker

works with people and information in an office setting

An intangible task that someone performs for you

a summary of your professional experience and qualifications

any program that will cause damage to your computer

What is a natural resource?

something from nature used to make a good

If you lose your phone...

use FindMyIphone or the Android Device Manager to find it

Is something tangible that someone makes

What is a Letterhead?

section at top that contains your contact information

When writing a check, why do you need to write the amount in number AND words?

It prevents people from changing the amount of the check.

The difference between a job and a career is

A Career is long term, a job is short term

Something that makes life nicer, but you can live without

Why is it important to keep your phone/device protected?

The information on your phone could lead to Identity Theft

are the buyers of goods and services

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BHS Financial Literacy Final

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Questions 35

Answers

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

BHS Financial Literacy Final Flashcards | StudBud