JA Financial Literacy: Theme One

Front

What is the main reason why people make voluntary exchanges of goods and services in a free market or capitalist system?

Back

They expect to be better off as a result of an exchange.

Front

Amit loves baking cookies and his friends tell him they're delicious. He decides to see if people would be willing to buy them. Which of the following is the MOST capitalist behavior for Amit in this situation?

Back

He researches what kind of cookies are most popular and bakes those.

Front

This is an example of: Sonya makes screen-printed shirts and her neighbor, Tony, is skilled at training dogs. Sonya recently got a dog that needs to be trained and Tony’s school club needs new shirts. Instead of paying a professional dog trainer, Sonya asks Tony to train her dog. In return, she agrees to print shirts for Tony’s school club.

Back

Bartering

Front

Which of these is a form of earning? Wages, Theft, A lottery win, An inheritance

Back

Wages

Front

Which would be considered an unanticipated life expense? Furthering education, Childcare, Managing a long-term illness, Leasing a vehicle

Back

Managing a long-term illness

Front

Which might be found at the U.S. Department of Labor website?

Back

Career resources

Front

The following are examples of the benefits of getting a certificate or degree through trade school EXCEPT: Lower initial cost outlay for education, Less time invested, Hands-on job experience is often provided, High amount of perceived prestige

Back

High amount of perceived prestige

Front

Which post-high school option would be BEST for Nova, if she wants to earn the most amount of money throughout her career? Options: Pursue a bachelor's degree at a college or university., Take online software classes and get certifications in a few different design programs., Attend a college or university to earn an associate degree., Starting working as soon as possible, so she starts earning money immediately.

Back

Pursue a bachelor's degree at a college or university.

Front

Which of the following is NOT information needed to complete the Free Applicate for Federal Student Aid (FAFSA) form? Options: The student’s marital status, Tax records from the student’s parents or legal guardians, Where the student’s parents’ or legal guardians’ work, The student’s mailing address

Back

Where the student’s parents’ or legal guardians’ work

Front

What is the difference between gross pay and net pay?

Back

Net pay is the amount of pay remaining after deductions have been removed from a paycheck, while gross pay is the amount you earn.