Personal Finance Review

Which of these is a good that people make?

• A.

  bicycle

• B. teaching

• C. firefighting

Which of the following is a service people provide?

• A. teacher

• B. fire truck

• C. washing cars

What does the phrase “You cannot always buy what you want” describe?

• A.

  Wants

• B. Scarcity

• C. Needs

What is a consumer?

• A. A person who sells things

• B. A person who buys things

• C. A person who makes things

What is a producer?

• A. A person who makes things

• B. A person who sells things

• C. A person who buys things

What is a positive effect of saving money?

• A. You can buy something now

• B. You can enjoy a new toy

• C. You can buy something bigger later

Why would a person spend money instead of saving?

• A. She needs to save her money. 

• B. She wants a new toy now.

• C. She wants to wait to buy something.

Pam’s mom is a doctor who helps people.  Which sentence describes Pam’s mom as a doctor?

• A. Her mom is a consumer.

• B. Her mom provides a service

• C. Her mom is saving money.

Joy’s mom puts most of her money in the bank.  Which BEST describes Joy’s mom?

• A. Saver

• B. Consumer

• C. Spender

What is an income?

• A. Money a person makes at a job.

• B. Money a person saves at a bank.

• C. Money a person spends on goods.