Personal Financial Literacy - Third

When you buy something on ______ you pay for it later. 

These are used to produce goods and services. 

________ is paying money for goods such as food and clothes or services such as a haircut.

Which one of these involves interest? 

When you pay for goods or services you did not save for. 

Money you give to help others. 

Money you pay when you borrow money, or money you receive for lending money.

Which of these would you most likely put on a credit card? 

If the availability of a product is low, then the price is most likely __________. 

Joe takes a loan for $30 dollars with $5 interest. Joe earns $20. How much does he still owe? 

The more experience or education, the better chance you have of earning a higher income. 

________ is when you put money aside to use it in the future.

The money earned for work people complete. 

When the demand for a certain product is high, then the price is usually ___________. 

________ is paying for goods and services you expect.