Financial Lit - Unit 2 Test Review

Question 1

The result of high prices (low Demand / high Supply)

Accepted Answer

Surplus

Question 2

How much is made, produced or supplied

Accepted Answer

Supply

Question 3

The AMOUNT supplied & demanded by both the manufacture and customer

Accepted Answer

Quantity

Question 4

Occupational Goal

Accepted Answer

Part of a Career Plan

Question 5

Housing

Accepted Answer

Cost of Living Expense

Question 6

Skill Development, Educational Credentials, & Occupational Goal are all part of a

Accepted Answer

A Career Plan

Question 7

Set a goal of saving $200/month for a down payment on a home in five years. Type of goal?

Accepted Answer

Long term Financial Goal

Question 8

The letter that corresponds with Quantity

Accepted Answer

D

Question 9

Educational Credentials

Accepted Answer

Part of a Career Plan

Question 10

Saving money for two month to purchase a new video game

Accepted Answer

Short-term Goal

Question 11

What is “awarded” money from multiple sources that you can use for expenses relating tocollege

Accepted Answer

Scholarships

Question 12

The science that describes the management, creation and study of money, etc.

Accepted Answer

Finance

Question 13

What is financial aid money for college that you must pay back with interest?

Accepted Answer

Student Loan

Question 14

What would be considered a "Cost of Living" element for a city?

Accepted Answer

Affordable Housing

Question 15

Determines how much Federal financial aid you are eligible to receive

Accepted Answer

FAFSA4caster

Question 16

The study of how people use their limited resources in satisfaction of their limitless wants

Accepted Answer

Economics

Question 17

The letter that corresponds with Demand

Accepted Answer

B

Question 18

A good that is in high demand at a lower price will be less in demand at a higher price

Accepted Answer

Supply and Demand

Question 19

What is paid for an item or service

Accepted Answer

Price

Question 20

Summer Jobs, Volunteer, and Extra-curricular Activities are things you can do to increase?

Accepted Answer

Human Capital

Question 21

The letter that corresponds with Supply

Accepted Answer

A

Question 22

The letter that corresponds with Price

Accepted Answer

C

Question 23

Resources are the __________

Accepted Answer

Supply

Question 24

90% of what we communicate is _______________________.

Accepted Answer

non-verbal

Question 25

Individuals with more educational training and degrees on average have:

Accepted Answer

Higher lifetime earnings than those with less education

Question 26

The capacity and willingness to create, organize and own a business

Accepted Answer

Entrepreneurship

Question 27

Profession or field of employment for which one trains, such as financial services or medicine

Accepted Answer

A career

Question 28

Profession or field of employment for which one trains, such as financial services or medicine

Accepted Answer

Career

Question 29

Financial aid money you do not have to repay

Accepted Answer

Grant

Question 30

Housing, food, and transportation are part of what type of expenses?

Accepted Answer

Cost of Living

Question 31

How much is requested, purchased, or taken

Accepted Answer

Demand

Question 32

What are four important considerations when determining the Actual price of an item.

Accepted Answer

Price, Shipping Cost, Return Policy, Location

Question 33

Cash is ________!

Accepted Answer

King

Question 34

Skill Development

Accepted Answer

Part of a Career Plan

Question 35

Transportation

Accepted Answer

Cost of Living Expense

Financial Lit - Unit 2 Test Review

Questions 35

Financial Lit - Unit 2 Test Review

Questions 35