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Financial Literacy and Economy Review Flashcards | StudBud
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Financial Literacy and Economy Review
Financial Literacy and Economy Review
11 terms
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A Quiz to review financial literacy terms and concepts from JA Biztown.
Flashcards
11 cards
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Practice quiz
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Questions
11
Answers
1
A direct deposit is when you take your paycheck directly to the bank after you receive it.
False
True
2
Max has $9.73 in his checking account. Which payment can he use to buy a $10.00 succulent?
He cannot buy the succulent
Credit Card
Check
Debit Card
3
A person who uses resources to start a business is known as...
A consumer
One smart cookie
An entrepreneur
A citizen
4
A free enterprise is a system in which economic decisions are made by the government.
True
False
5
Which of the following are examples of natural resources?
Cups, spooons, pitchers
Crayons, paper, scissors
Cashier, cook, CFO
Wood, lemons, water
6
When you pay using a debit card the money is coming from...
A loan from the bank
Your savings account
The sky
Your checkings account
7
Which of the following is a financial institution?
Library
Credit Union
Museum
City Hall
8
Scarcity is...
How goods, services, and money move through an economy
When businesses make too much of a product
When people can't get what they want due to limited resource
Where Scar from Lion King lives
9
The amount left over from your paycheck after taxes and deductions is called...
Gross Balance
Net Pay
Transaction
Balance
10
Credit cards and debit cards are essentially the same thing.
True
False
11
Which service is a bank likely to offer?
Net Deposit
Balance
Online Banking
Circular flow
