Financial Literacy 3rd grade

Which of the following is NOT a good reason to start saving money?

• You will have money to pay for college.

• You will have money to buy expensive items.

• You will have money in case of an emergency.

• Not here.

Which of the following is the best reason to use a credit card?

• A medical emergency

• To buy a new toy

• To eat a fancy dinner

• To go on vacation

Which of the following statements is true regarding labor and income?

• In order to earn an income, you must provide a good or service that people want.

• Everyone with a job earns the same amount of money.

• Income is the money that is spend on goods and services.

• Not here.

Garrett made friendship bracelets to sell at his school's Market Day. He hears several people say, "Oh, that's too expensive for a bracelet." and walk to the next booth. What should Garrett do in order to sell his freindship bracelets?

• Raise the price.

• Give the bracelets away.

• Lower the price of the bracelets.

• Not here.

At the toy store, Derrick sees a new electric scooter that he wants. The scooter costs $100, but Derrick only has $20. Which of the following is NOT a reasonable solution to Derricks's problem?

• Derrick can save up his money until he has $100 and then purchase the scooter.

• Derrick can borrow $80 from his parents and then pay them back.

• Derrick can put the scooter on a gift wish list.

• Derrick can steal the scooter from the store.

Which of the following items could be bought after following a long-term savings plan?

• Piece of candy

• New car

• Movie ticket

• New shirt

All of the following are reasons to save EXCEPT-

• College tuition

• Car

• House

• Not here

Which of the following is not an occupation that earns an income.

• Teacher

• Doctor

• Volunteer

• Police Officer

Grocery stores are not able to stock their shelves with oranges due to a recent snowstorm. Due to the temporary scarcity of oranges, the cost of oranges will most likely -

• Stay the same

• Increase

• Decrease

• Not here

Which of the following statements about credit is false?

• The borrower will most likely pay back more money than borrowed, and this is called interest.

• It is the borrower's responsibility to pay back money to the lender.

• Credit is used when wants and needs exceed the ability to pay.

• Not here.