
Financial Literacy Concepts and Definitions

Flashcard
•
History
•
11th Grade
•
Easy
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71 questions
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1.
FLASHCARD QUESTION
Front
Define the term 'Consumer'.
Back
A consumer is an individual or entity that purchases goods and services for personal use.
2.
FLASHCARD QUESTION
Front
Define the term 'Needs'.
Back
Basic requirements essential for survival and well-being.
3.
FLASHCARD QUESTION
Front
Define the term 'Wants'.
Back
Wants are desires or wishes for specific items or experiences that are not essential for survival but enhance quality of life.
4.
FLASHCARD QUESTION
Front
Define the term 'Earn'.
Back
Make money by working
5.
FLASHCARD QUESTION
Front
Define the term 'Spend'.
Back
Spend is a term that refers to the act of using money to purchase goods or services.
6.
FLASHCARD QUESTION
Front
Define the term 'Income'.
Back
Income is the money received, especially on a regular basis, for work or through investments.
7.
FLASHCARD QUESTION
Front
Define the term 'Asset'.
Back
Own something valuable
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