Biztown: Unit 1: Lesson 4: Debit Cards

Multiple Choice

A written order to a bank to pay money from a bank account to a person or business

• Check

• Cash

Multiple Choice

Bills and coins created by the government

• Check

• Cash

Multiple Choice

A card that allows the holder to buy goods and services by taking out a bank loan

• Credit card

• Debit card

Multiple Choice

A card that allows customers to electronically and immediately withdraw funds from their accounts, either in cash or to purchase goods or services

• Credit card

• Debit card

Multiple Choice

A card used to buy food for people eligible for government benefits

• Electronic payment

• EBT card

Multiple Choice

Payment made online for using an app that allows the user to automatically debit a bank account or charge a credit card without having to use that debit or credit card

• Electronic payment

• EBT card

Multiple Choice

A card that is purchased for a certain amount and then used like cash

• Gift card

• Pre-paid card

Multiple Choice

A card that allows you to spend only the amount you have pre-deposited into an account

• Gift card

• Pre-paid card

​Scarcity: A condition which people cannot have everything they want because of limited resources.

PIN: A number required when a person uses a debit card; it ensures others can't access the bank account

Multiple Choice

A condition which people cannot have everything they want because of limited resources.

• Scarcity

• PIN

Multiple Choice

A number required when a person uses a debit card; it ensures others can't access the bank account

• Scarcity

• PIN

Multiple Choice

Debit cards are a convenient way to pay because you don't have to carry cash or take time to write a check.

• True

• False

Multiple Choice

You should tell everyone your PIN number

• True

• False

Multiple Choice

Debit card purchases are "buy now, pay now," so you must have enough money in your account to cover your purchase.

• True

• False

Multiple Choice

The bank will record your purchases on your money tracker when you use a debit card.

• True

• False

Multiple Choice

The bank tells you what you can and cannot use to make payments.

• True

• False

Multiple Choice

If you spend more money than is in your account, the bank will charge you a fee.

• True

• False

Multiple Choice

When using a credit card, you will be charged interest if the balance is not paid within 30 days.

• True

• False

Multiple Choice

When people use debit cards, make electronic payments, or write checks, the amount of money in their checking account (the account balance) is reduced.

• True

• False

Multiple Choice

A savings account is useful for times when you have an unexpected cost.

• True

• False

Multiple Choice

Scarcity means that no one has enough resources for everything they want and they have to make choices.

• True

• False