Financial Literacy

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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