G7-G8 FL-1

Q1. Any money paid for buying goods & services is known as_____.

• Profit

• Income

• Expense

Q2. _____ income is money received/income earned after actively working for someone or for yourself.

• Active

• Passive

• Essential

Q3. Why do people save money?

• Financial Freedom for future

• Self- Reliance

• Happiness

• All of the above

Q4. ____ is the process of creating a plan to spend money.

• Savings

• Budgeting

• Purchase Decision

Q5. Budgeting leads to _______.

• Unthoughtful buying

• Passive buying

• Self-control