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3rd Financial Literacy 1 Flashcards | StudBud
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3rd Financial Literacy 1
3rd Financial Literacy 1
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3.9 A- Human Capital and Income 3.9 B- Scarcity and Costs #financialliteracy
Flashcards
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Questions
13
Answers
1
Demand
Money set-aside for future use.
Physical or mental work done in return for a wage.
The consumer's interest & willingness to pay for a service.
2
What is Labor?
Money set aside for future use.
Physical or mental work done in return for a wage.
The management of a person's money.
3
If goods are not available readily to make a product- will the product...
Increase in price?
Decrease in Price
Stay the same
4
Supply
Resources and supplies needed for the productions of goods.
The consumer's interest & willingness to pay for a service.
The amount of a good or service available to consumers.
5
Credit is ....
Money you win from a lottery
Money borrowed that must be paid back to a lender
Money that is borrowed for free
A financial plan
6
Demand is greater than the amount of goods that can be produced because of limited resources.
Scarcity
Supply
Demand
7
Money set aside for future use
Interest
Savings
Budget
Dab
8
Materials in financial literacy are ...
Resources and supplies needed for the production of goods.
What we need for a science experiment
Spongebob
Things we need in school to do well
9
Skills, abilities, or education that make workers valuable is called...
Human Capital
Labor
Credit
10
A financial plan that includes estimated expenses and income
Justin Bieber
Income
Credit
Budget
11
Increase means
Go up and down
Go Down
Stay the same
Go Up
12
What is Income?
Physical or mental work done in return for a wage
Skills, abilities, or education that make workers valuable
Money Earned for working or selling goods/property
13
What is Interest?
Cookies
Money set aside for future use a financial plan
Fees owed for borrowing money or buying with credit
