Which of the following is NOT a disadvantage of using a credit card?

A credit card can be used to buy now and pay later

Nina works for a restaurant. The restaurant pays her every week for the work she does. Which statement is true?

When Nina works more hours, she earns more income

The restaurant Nina works at pays her every week for the work she does. Which statement is true?

When Nina works more hours- she earns more income

What does income mean?

amount of money received from working

Which of the following defines scarcity

Not enough of something for all people who want it.

What will happen to the price of corn if there is a lack of rain and there is not a good crop so corn becomes scarce?

The price of corn will increase

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3rd Grade- Financial Literacy STAAR

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Questions 15

Answers

1
Which of the following is NOT a disadvantage of using a credit card?
It is easy to forget debt is being created each time a credit card is used
Finance charges are added to the amount of debt if amount due isn't paid
Too much debt charged on a credit card may be difficult to repay
A credit card can be used to buy now and pay later
2
Which of the following can happen when you spend money on things that are unplanned?
You might need to borrow extra money
you might need to withdraw additional money from your bank account
All of the above
you might go over your budget
3
What does planned spending mean?
You expected to spend money
you did not expect to spend money
4
Which of the following is the best example of long-term savings goal?
Saving for a birthday present
Saving for a movie ticket
Saving for a video game
Saving for a college education
5
How can you start saving money for college now?
I can make a budget to help me save money
All of the above
I can open a savings account
I can put some of my birthday money into my bank account each year
6
Which of the following are impulse buys or things you did not plan to buy at the store?
gallon of milk
small toy near checkout
food
eggs
7
Which of the following is an example of goods?
swimming lessons
bracelet
trimming trees
maid service
8
Attending college can increase your chances of earning the most money at a job.
True
False
9
Nina works for a restaurant. The restaurant pays her every week for the work she does. Which statement is true?
When Nina works fewer hours, she earns more income
When Nina works fewer hours, the restaurant gets more labor from her.
When Nina works more hours, she earns more income
When Nina works more hours, the restaurant gets less labor from her.
10
When the price of a product goes down it is usually because___
The product is scarce
No-one wants it
Everyone wants it
demand is hight
11
The restaurant Nina works at pays her every week for the work she does. Which statement is true?
When Nina works fewer hours- she earns more income
When Nina works more hours- the restaurant gets less labor from her
When Nina works more hours- she earns more income
When Nina works fewer hours- the restaurant gets more labor from her
12
What does income mean?
all of the above
amount of money received for completing a service or selling a good
the amount of money earned over a time period
amount of money received from working
13
Which of the following defines scarcity
Enough for everyone
Not wanting more of something
Not enough of something for all people who want it.
Not having as much of something as someone else
14
What does labor mean?
work
monthly earnings
sick day
paid vacation
15
What will happen to the price of corn if there is a lack of rain and there is not a good crop so corn becomes scarce?
The price of corn will decrease
The price of corn will stay the same
No clue
The price of corn will increase

3rd Grade- Financial Literacy STAAR Flashcards | StudBud