Financial Literacy Quiz

An act of conducting business with somebody which lends one person money, services, and goods in return for the other person receiving a future payment. Which word matches the definition?

• Credit

• Budget

• Credit Card

• Debt

What is the difference between a Want vs. a Need?

• A need is something that you desire and a want something that is required to obtain.

• A need something that is required to obtain while a want is something that is desired.

Which definiton fits the words: Debit Card?

• When somebody owes somebody else something that they lended, typically in money

• Money that is earned on a regular basis through working or through investments

• The process of spending money to achieve a greater desired profit.

• A card that allows the user to spend the money that they have deposited at the bank by transferring it electronically.

Money that is earned on a regular basis through working or through investments. Which word matches the definition?

• Income

• Invest

• Interest

• Debt

A particular amount of money that is provided for a certain set period of time. Which word matches the definition?

• Income

• Budget

• Credit

• Debit Card

A card that is usually issued by the government which allows someone to purchase economic commodities on credit. Which word matched the definition?

• Credit Card

• Debit Card

A consistent rate of money paid due to the money that was lent. Which word matches the definition?

• A need

• A want

• Interest

• Debt

Which definition matches the word: Debt?

• A card that allows the user to spend the money that they have deposited at the bank by transferring electronically.

• When somebody owes somebody else something that they lended, typically in money.

• A card that is usually issued by the government which allows someone to purchase economic commodities on credit.

• A particular amount of money that is provided for a certain set period of time.

The process of spending money to achieve a certain desired profit. Which word matches the definition?

• Credit Card

• Credit

• Debt

• Invest

What is a need and want? Choose tow answers that match the definitons of these words?

• The desire to obtain something that isn’t needed

• When somebody owes somebody else something that they lended, typically in money.

• A consistent rate of money paid due to the money that was lent.

• To be required obtain something due to the essential significance of it.