A checking account is...

a bank account where people deposit money and write checks

an organized plan for spending used to help people

a high need or want for a particular item or service

money earned for working or selling goods or property

Unplanned spending is...

money spent for goods or services that are not planned

Charitable giving is...

donating goods or services to an organization in need.

when human wants are greater than what is available

how much of something that is available

What would happen if the price of a box of oreos were to go down?

More people would buy Oreos, People would stock up on Oreos

Human capital labor is...

abilities, skills, and education that helps you

work completed for someone in exchange for payment

to get or use money from a bank or other person

Which is an example of credit?

Taking out a loan from the bank

Planned spending is...

money spent on goods or services that are regular like bills

buying goods or services with an agreement to pay LATER.

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Personal Financial Literacy Review

25 termsStudBud Administration364 plays

#math #problemsolving #personalfinance #thirdgradestaar

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Questions 25

Answers

1
Saving is...
setting aside money for future wants or needs.
purchasing goods and services to satisfy wants and needs
abilities or skills that help to make you valuable
natural or man-made materials
2
Spending is...
when human wants and needs are greater than whats available
purchasing goods and services to satisfy wants and needs
purchasing goods and services and paying for them later
money earned for working or selling something
3
A savings plan is...
an organization that collects money for those in need
a plan to set money aside for future use
money earned
purchasing goods and services to satisfy wants and needs
4
Interest paid is...
natural or man-made materials
setting aside money for the future
when to many people want something that there is little of
money paid for borrowing money
5
A checking account is...
spending money that is not planned
a person that borrows money
a bank account where people deposit money and write checks
a person that lends money
6
A budget is...
money spent on items that are not needed
giving money to people in need
an organized plan for spending used to help people
a person or business that loans money
7
Demand is...
the amount of a good or service available for use
a high need or want for a particular item or service
amount of money used to buy a good or service
to get money from a person or bank
8
Donating money to the Red Cross is an example of...?
income
credit
saving
giving
9
Matt needs $50 for a new video game. If he saves $10 a week, how many weeks will it take him?
5
10
50
10
Income/Salary is...
purchasing goods and services
a plan to set money aside for the future
natural or man-made materials
money earned for working or selling goods or property
11
Unplanned spending is...
the money you get from a borrower that you pay later
money spent for goods or services that are not planned
the amount of work done for a good or service
a plan for spending used to help people make good choices
12
Charitable giving is...
earning money.
donating goods or services to an organization in need.
working for money
buying goods.
13
Scarcity is...
when human wants are greater than what is available
donating to an organization
setting money aside for future use
buying goods or services now with an agreement to pay later
14
Supply is...
money spent for a good or service
a set payment that a person receives in exchange for work
money earned for work done
how much of something that is available
15
What would happen if the price of a box of oreos were to go down?
Fewer people would buy Oreos
More people would buy Oreos
People would stock up on Oreos
People would eat Oreos ALL the time!
16
What does scarcity mean?
Fewer resources
Money earned
More resources
17
Human capital labor is...
setting aside money earned for later
a plan to set money aside for future use
abilities, skills, and education that helps you
money paid for an item
18
A job is...
money spent to pay for goods or services that is not planned
someone that lends money
work completed for someone in exchange for payment
to borrow money
19
Earning an allowance is an example of...?
earning an income
saving
spending
20
To borrow means...
work completed for someone in exchange for payment
the measure of how much a good or service is wanted
to get or use money from a bank or other person
amount of money used to buy a good or service
21
Nick needs $180 for a new iPad. If he saves $60 a week, how many weeks will he need to save?
1 week
2 weeks
4 weeks
3 weeks
22
Which is an example of credit?
Taking out a loan from the bank
Paying with a personal check
Paying with a debit card
Paying with cash
23
Planned spending is...
a bank account where people deposit money
a person or business that lends money
money spent on goods or services that are regular like bills
money spent to pay for unnecessary items
24
Credit is...
buying goods or services with an agreement to pay LATER.
paying for something with cash.
buying goods or services with an agreement to pay NOW.
money earned.
25
Dad used a credit card to pay for gas for the car. Whom does he have a responsibility to pay?
Credit card company
Cashier
nobody
Gas station

Personal Financial Literacy Review Flashcards | StudBud