Studies Weekly Week 17 Review

Money you recieve from working is called ____.

(will be open response)

• income

• expenses

• budgeting

• savings

Which of the following is NOT a need?

• food

• house

• medicine

• entertainment

Why is a budget a useful financial tool?

(will be open response)

• It keeps your spending money organized.

• It helps you plan how to spend your money wisely.

• It makes you forget how to spend your money.

• It helps you to know how much money you have to spend.

__________ means to purchase something with the hope that it will make more money in the future.

• investing

• spending

• buying

• saving

__________ is money that one person owes another.

• interest

• income

• debt

• expense

What is a good reason to borrow money?

(will be open response)

• for a house

• for a car

• for college

• for entertainment

What is a bad reason to borrow money?

(will be open response)

• for a house

• for a car

• for college

• for entertainment

__________ hold customers' money in accounts for safekeeping and lend money.

• banks

• businesses

• schools

• unions

Which of the following are services that are provided through taxes?

(will be open response)

• schools

• roads

• police and fire departments

• garbage pick- up

• parks