Financial Literacy

Financial Literacy

Assessment

Flashcard

Mathematics

3rd Grade

Hard

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15 questions

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1.

FLASHCARD QUESTION

Front

What is Financial Literacy?

Back

Financial Literacy is the ability to understand and manage your money effectively, including budgeting, saving, investing, and making informed financial decisions.

2.

FLASHCARD QUESTION

Front

What does it mean when something is expensive?

Back

Something is usually expensive if the demand is high and the supply is low.

3.

FLASHCARD QUESTION

Front

How much does Ellen earn if she rakes leaves for 2 hours a day for 2 weeks at $3 an hour?

Back

Ellen earns $84.

4.

FLASHCARD QUESTION

Front

What is a 'want'?

Back

A 'want' is something that you desire but do not need for survival, like a skateboard.

5.

FLASHCARD QUESTION

Front

What is a 'need'?

Back

A 'need' is something essential for survival, such as food, water, and shelter.

6.

FLASHCARD QUESTION

Front

What happens to prices when demand increases?

Back

When demand increases and supply remains the same, prices usually go up.

7.

FLASHCARD QUESTION

Front

What is a budget?

Back

A budget is a plan that helps you manage your money by tracking income and expenses.

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