Financial Literacy

Which is not a service

• hairstyling

• repairing cars

• babysitting

• clothing

Which of the following would be a benefit for saving money?

• You have money for a candy

• you have money in case of an emergency

• you have money for a soda

Which scenario best describes an UNPLANNED spending decision?

• Trey worked all summer mowing lawns, so he could buy a new video game

• Sarah walked into the store to buy a new book and walked out with a book, a stationary set, and a stuffed bear

• you had saving all of your birthday money to purchase a new bike

Which scenario best describes a planned spending decision?

• Jessica bought three pairs of shoes and a scarf when she went to the store to buy school supplies

• Colby spent all of the money in his savings on video games

• Kyle saved for two months to buy new skates

Mary paid $20 for a rare stuffed doll. Then the toy maker announced that thousands more of that will be in stores next week.

If Mary sells her stuffed doll online next week, which option best describes what will happen?

• It will sell for $20 because it is a scarce resource.

• It will sell more than $20 because there are more resources available

• It will sell for less than $20 because there are more resources available

Carlos bought a new laptop for school. The cost of the laptop was $500. Carlos only had $400 saved in the bank, so he had to borrow $100 from his mom to pay for the laptop. He agreed to pay his mother $150 back.

What is the additional $50 Carlos has to pay his mother?

• credit

• planned spending

• interest

• unplanned spending

The money you have earned or recieved

• Taxes

• product

• income

Is a product a good or service

• True

• False

A person or organization that makes goods or services

• buissness

• wants

• producer

• services

air water food shelter and sleep is a want

• true

• false