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Financial Literacy Northside High School Flashcards | StudBud
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Financial Literacy Northside High School
Financial Literacy Northside High School
29 terms
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Financial Literacy questions for review.
Flashcards
29 cards
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Practice quiz
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Questions
29
Answers
1
Spending on clothing is what kind of expense?
Production Expense
Investment Expense
Variable Expense
Fixed Expense
2
What is net pay?
Amount of money left after all deductions have been taken.
The length of time an employee's wages are calculated
The amount of pay earned from doing additional work
The total amount of money earned before pay deductions.
3
When a bank pays someone to save money it is called
Trade-off
Interest
Opportunity Cost
Service
4
We cannot have everything we want because of
opportunity cost
wants
needs
scarcity
5
What is unemployment?
A person without a job but is looking for one.
A person not physically capable of working
A retired person
A stay at home mom or dad
6
One way to improve human capital is by...
Go shopping
Building a factory
Saving money
Attending school
7
Why would people want to invest in the stock market?
To gamble
To help a company go bankrupt
To lose money
To make money
8
Which of the following could you use to buy something now and pay for it later?
Check
Credit Card
Cash
Debit Card
9
An economic system that uses supply/demand and some government regulation.
Mixed
Command
Traditional
Market
10
Taking money out of your bank account is called...
Withdrawal
Interest
Payment
Deposit
11
The knowledge, skills and talent that people use to do their work is called.
Capital Resources
Human Capital
Financial Capital
Natural Resources
12
When signing a lease to rent an apartment, it is important to do what?
Review and sign quickly
Read carefully and only sign when you understand it.
Read carefully and sign even if you don't understand it.
Read and sign it even though you do not agree with it .
13
The circular flow of money in our society is between
Government, Households and Marketplace
Government and Marketplace
Marketplace and Households
Households, Government and other countries
14
The payment people receive for the work they do is called...
Profit
Interest
Savings
Wages
15
Which of the following are ways to protect yourself from identity theft?
Destroy all password sensitive material
All of the above
Change passwords frequently
Protect your pin
16
Federal and state income tax returns are due every year on
April 15
January 31
July 15
December 31
17
Interest rates on credit cards
Are the same regardless of age or income
Are the same for everyone
Vary depending on credit score and age and income
Depend on age and income
18
Sam earned $3000. He spent $2000. He put $1000 in the bank. This amount is called?
Budget
Saving
Credit
Profit
19
Jobs usually pay a higher salary when...
They have a job title
People must be interviewed
An ad has been placed online.
More education or skills are required
20
Which is an example of a fixed expense?
House Payment
Netflix
Gasoline
Clothing
21
What is the best action to take to balance your budget?
Pay more taxes
Get more credit cards
Reduce expenses
Increase expenses
22
An economic system that does not stray from what their ancestors produced.
Traditional Economy
Mixed Economy
Market Economy
Command Economy
23
What is an advantage to buying a house?
Lack of ability to make decorating changes
Multiple options for size and location
Limited expenses for maintenance
Increased responsibility for maintenance.
24
An economic system that is based solely on government decisions.
Traditional
Mixed
Command
Market
25
A plan for managing income, spending and saving is called...
Credit Account
Account balance
Budget
Investment
26
When looking for a house, what should you consider?
Price
Neighborhood
All of the above
Schools
27
Haley can either work at Taco Bell or Skyline. If Haley picks Skyline, Taco Bell is her...
Interest
Incentive
Choice
Opportunity Cost
28
What should you do on a job application?
Appropriate grammar
All of the above
List references
Blue or Black Pen
29
Which one of the following is inappropriate during a job interview?
Answer your cell phone
Thank the interviewer
Dress according to job
Be confident
