Personal Financial Literacy

Which of the following would you use a credit card to buy?

• Tacos

• French Fries

• A vacation

• A new washing machine.

Ashley works at a movie theatre. Some weekends Ashley works more than others. Which statement is most likely true?

• When Ashley works more hours, the theatre gets less labor from her.

• When Ashley works less hours, the theatre gets more labor from her.

• When Ashley works more hours, she earns less income from the movie theatre.

• When Ashley works more hours, she earns more income from the theatre.

Banks make loans. These loans are

• Deposits that people make to a bank.

• Money that doesn’t have to be repaid to the bank.

• Money that must be repaid to the bank.

• Goods and services the bank has that others want to use.

 

After a drought, a farmer did not harvest as much wheat. How will this impact the price of wheat?

• The price of wheat will increase because the farmer has less wheat to sell.

• The price of wheat will increase because the farmer has more wheat to sell.

• The farmer will charge less because the farmer has more wheat to sell.

• The farmer will charge less because she has less wheat to sell.

Mr. Campbell needed a new dryer, so he borrowed $600 from the bank. He paid $680 back to the bank. What is the reason Mr. Campbell paid more than he borrowed?

• Mr. Campbell paid sales tax on his purchase.

• The dryer cost more than $600.

• Mr. Campbell bought some tools at the same time as he bought the dryer.

• Mr. Campbell had to pay interest on the money he borrowed.

Mrs. Campbell wants to have a pool built in her backyard. Mrs. Campbell does not have enough money in her savings to pay for the pool to be built. What can she do to be able to have the pool built in her backyard?

• Borrow money from the bank and never pay it back.

• Borrow money from the bank and have her friend pay it back.

• Borrow money from the bank and pay it back with interest.

• Borrow money from the bank and use it to go on a vacation.

1.     Which factor is most likely to help Luis get paid more money at his job at Tesla?

• The size of his family.

• The amount of money Luis saves each month.

• The amount of bills that Luis has.

• The number of years of experience that Luis has.

 

Which is not a benefit of a savings plan?

• Having more money to spend right now.

• Paying for college in the future.

• Paying for surprise expenses or emergencies.

• Buying expensive things in the future, if enough money is saved up.

 

Who is most likely to be hired for a job?

• The person with the most years of experience, with no training.

• The person with the most experience and the most training.

• The first person to hand in their application.

• The person with the most training and no experience.

Helen wants to buy Apple airpods but she does not have enough money. She wants her Mom to use her credit card, but her Mom said no. What is the most likely reason Helen's Mom does not want to use a credit card to buy Apple airpods?

a.    

b.    

c.    

d.     Because Robert will have to pay back the cost of the hat plus interest.

• Because you cannot use a credit card at the Apple store.

• Because it will make Helen think she can just use her Mom's credit card any time she wants.

• Because the credit card company is not near Helen’s house.

• Because Helen will have to pay back the cost of the Apple airpods, plus interest.