financial literacy

What are some examples of basic human needs? (pick three)

• Food

• Water

• Shelter

• Car

Which services is a bank likely to offer?

• balance

• savings account

• online banking

• net deposit

Which of the following are financial institutions?

• bank

• museum

• library

• credit union

When someone pays for something they are doing what with their money?

• spending
• saving
• earning

A benefit to saving money in a basic savings account is

• the money is insured and therefore safe

• you might make a small amount of interest

• you can withdraw the money at anytime

• all of these answers are correct

Justin paid $150 for an electric scooter and $300 for a motorcycle. If he sells both to his friend for $700 how much profit will he earn?

• $250

• $200

• $1,000

• $450

How do you find out how much profit or loss a business has made? 

• expenses - income = profit or loss
• profit - capital resources = profit or loss 
• income - expenses= profit or loss
• budget - spent money = income 

Mr. Wilt starts a flower shop business. He sells each bouquet of flowers for $15. He works out of his house and grows the flowers in his backyard. He spent $30 to start his business. Will he have a profit or loss if he sells to 3 consumers? 

• profit 
• loss

Latrell bought an old rocking chair at a yard sale for $12. He spent a total of $4 on supplies to repair and paint it. He sold it for $38. How much profit did he earn?

• $16

• $22

• $33

• $30

The amount of money that you have in your bank account is known as a ...

• deposit

• balance

• withdrawal