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Personal Finance: Chapter 1 Review

Authored by Jennifer Miller

Social Studies

6th - 8th Grade

CCSS covered

Used 13+ times

Personal Finance: Chapter 1 Review
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17 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

This refers to all the money decisions a person or family must make in order to earn, budget, save, and spend money over time

financial aid

personal finance

home finance

cash flow statement

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Personal finance is about _______% behavior and _______% head knowledge.

30, 70

20, 80

70, 30

80, 20

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A measurement of the total dollar value of a person’s or business’ assets minus liabilities is called:

net worth

wealth

earnings

income

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A liability can be described as:

something you own that has value

money you owe; a debt

Something that goes down in value over time

Money that you have in a savings account

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The First Foundation is:

Get out of debt

Pay cash for a car

Save a $500 emergency fund

Build wealth and give

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following allows invested money to grow over time?

Compound interest

Premium payments

Taxes

Inflation

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The condition of having unlimited wants but limited resources is known as:

Consumerism

Scarcity

Global Demand

Budget

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