
Financial Literacy Questions
Flashcard
•
Instructional Technology
•
7th Grade
•
Practice Problem
•
Hard
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11 questions
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1.
FLASHCARD QUESTION
Front
Which of the following are examples of needs? Food, water, shelter; Luxury car, designer clothes; Smartphone, laptop; Vacation, entertainment
Back
Food, water, shelter
2.
FLASHCARD QUESTION
Front
What is income?
Back
Money received, especially on a regular basis, for work or through investments
3.
FLASHCARD QUESTION
Front
What is an expense?
Back
A cost incurred in the process of earning revenue.
4.
FLASHCARD QUESTION
Front
What is an opportunity cost?
Back
The cost of an alternative that must be forgone to pursue a certain action
5.
FLASHCARD QUESTION
Front
What things should you pay attention to when buying an alarm clock?
Back
Price and brand, Design and size, Features and functionality
6.
FLASHCARD QUESTION
Front
What does it mean to “consider your source” when reading product reviews?
Back
It means to check the credibility and reliability of the reviewer.
7.
FLASHCARD QUESTION
Front
What are two good reasons to build extra cash into your budget?
Back
To cover unexpected expenses and emergencies
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