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Financial Literacy Basics Flashcards | StudBud

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Financial Literacy Basics

9 terms·StudBud Administration·1 play

Test your knowledge on fundamental financial concepts and strategies to improve your financial well-being

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Questions 9

Answers

1
What is a budget?
A plan of how much money you have and how you will use it
A cash gift
A bank account
A notebook of expenses
2
What does 'unique value proposition' mean?
What makes your business different from others
The color of your logo
The highest price of your product
The place where you study
3
Which of these is a fixed expense?
Sweets and snacks
Buying trendy clothes
Movies with friends
Monthly cell phone recharge
4
What is the best way to save money?
Hide it from your friends
Spend it first and see if you have any left
Keep it in a safe
Set it aside before spending
5
What is a business plan?
A guide that helps you organize your business idea
A TikTok video
A summary of your social media
A shopping list
6
If your income is $50 and your expenses are $35, how much can you save?
$85
$50
$35
$15
7
Why is it important to know your competition?
It is not important
To copy them
To close their business
To differentiate yourself and improve your idea
8
Which of these reasons is a good one to save money?
To use it in an emergency or invest in my business
To buy things for others
To never touch it
To spend it on sweets
9
Which of these options best describes an ideal customer?
A specific person who needs what you sell
Anyone in the world
A famous company
Someone who sells products