S2 Personal Finance Recap

Which of these are NOT ways that you can legally earn/receive money...

• Inheritance

• Job

• Start a business

• Sell fake designer goods

Factors affecting our spending decisions include....

• Weather

• Sales Promotions

• The amount of family members a person has

• The colour of your hair

Which command word requires you to show how things are similar or different. Similarities have the word BOTH at the start of the sentence and differences have the word WHEREAS in the middle of the sentence.

• Describe

• Outline

• Compare

• Identify

Which command word requires you to answer using one or two words - just state the answer with no detail required?

• Outline

• Identify

• Describe

• Compare

Ethical spending means

• Never buying from charity shops

• Driving all over the country to find the item you're looking for

• Buying from socially responsible businesses e.g. ones that care about the environment

• Having a detailed plan about where you are going to shop

Which command word requires a more detailed response - two points are needed for one mark and you are encouraged to include an example?

• Outline

• Describe

• Compare

• Identify

Which of these is NOT a feature of a debit card?

• Money is taken directly from the buyer's bank account

• Can be used to withdraw cash from ATM

• Interest is charged at LIBOR + 1%

• Payment is made straight away

Which of these is a feature of a credit card?

• Can be used to withdraw cash from an ATM

• No interest is charged

• Doesn't involve borrowing money

• Payment is made immediately

Which command word requires you to answer using a sentence with a verb?

• Identify

• Compare

• Outline

• Describe

Which of the following factors affect our spending habits?

• Adverts on Social Media

• Celebrity Endorsements

• The amount of savings we have

• Our ability to get credit or borrow money