Personal Finance Study Guide

_____________ is another word for trading.

• Service

• Bartering

• Charities

• Good

________________ is something you pay someone to do for you.

• Service

• Bartering

• Charity

• Allowance

__________________ is something you can touch or hold, like things you find in stores.

• Barter

• Service

• Good

• Allowance

Services are things you can touch or feel

• True

• False

When Colton trades his Goldfish for Emily's Cheez-its, they are bartering.

• True

• False

How did Native Americans pay for goods?

• They used U.S. Money

• They bartered

• They used coins

Not being able to have all of the goods and/or services that you want because people have endless wants, but goods and services aren't endless. So people are forced to make choices.

• Scarcity

• Trade

• Standard of Living

• Human Resources

A benefit is something good or helpful.

• True
• False

Scarcity is not having enough of something.

• True
• False

Scarcity is NEVER a big problem.

• True
• False