Who is the consumer in a transaction?
Personal Financial Literacy Review for test

Flashcard
•
Mathematics
•
2nd Grade
•
Easy
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
The consumer is the person who buys and uses goods or services.
2.
FLASHCARD QUESTION
Front
What does it mean to lend something?
Back
To lend means to give something to someone with the expectation that it will be returned.
3.
FLASHCARD QUESTION
Front
Who is the producer in a transaction?
Back
The producer is the person who makes or creates goods or services.
4.
FLASHCARD QUESTION
Front
What does it mean to spend money?
Back
To spend money means to give money in exchange for goods or services.
5.
FLASHCARD QUESTION
Front
What is a transaction?
Back
A transaction is an exchange of goods or services for money.
6.
FLASHCARD QUESTION
Front
What is a good?
Back
A good is a physical item that can be bought or sold.
7.
FLASHCARD QUESTION
Front
What is a service?
Back
A service is an action or activity that one person does for another.
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