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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Flashcards
30 cards
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Questions
30
Answers
1
A debit card _____________.
lets you borrow money
takes money from your own bank account
2
Which of these is a "fair" trade?
A puzzle for movie tickets
A pencil for a pen
A piece of gum for cleaning a house
Mowing the lawn for a hamburger
3
When prices on donuts are low at Casey's, consumers buy more.
False
True
4
Another word for barter is trade.
False
True
5
This picture shows a ______ on bread before a hurricane.
shortage
suprlus
6
Both debit and credit cards can _________.
make you pay interest
help you get a job
be used to buy goods and services
7
Prices can change for goods or services when there are changes __________.
on the moon
in supply and demand
8
What happens to the price of a Hatchimal when the supply is low, but the demand is high?
prices go up (increase)
prices go down (decrease)
9
You have to pay taxes on a credit card.
False
True
10
Consumers, like you and me, use money to _________.
make goods and sell services
buy goods and services
11
A producer makes and sells goods and services.
False
True
12
Does a fire fighter provide a good or service?
good
service
13
What is this?
service
good
14
Cash is the only way you can pay for goods and services.
False
True
15
Money can be earned, saved, spent, or donated.
False
True
16
Which of these is a service?
Fan
Noodles
Cleaning windows
Pasta
17
Does this image show a surplus or shortage?
surplus
shortage
18
Which is easier to get?
debit card
credit card
the flu
19
What service does a dentist provide?
dentist
keeps you safe
checks teeth for cavities
delivers your mail
20
A banker provides a _____________.
service
need
want
good
21
When there is not enough of goods or services for all who want it, this is called __________
scarcity
choice
services
goods
22
When you have two things you want, but only have money for one, you'll have to make a ________.
wish
demand
choice
23
Items that you must have in order to survive are called ____________.
needs
wants
24
What is it called when you make a plan on how to spend your money?
budget
cash
want
calendar
25
Which are examples of needs?
LOL doll, Monopoly, and Xbox
Bread, milk, and eggs
26
When you trade chicken eggs for fresh milk with your neighbor, what is this called?
saving
buying
bartering
27
What happens to the price of a good when there is a big supply, but little demand?
price goes down (decreases)
price goes up (increase)
28
When prices on cars are high, consumers buy more.
False
True
29
Debit and credit cards are tougher to use than regular money.
False
True
30
Limited resources means
there are plenty
there are not enough
there are just enough
there are none