Unit 2 Financial Literacy Review Day 1

What lists all the expenses and resources available for spending?

• a budget

• a list

• a check

• wants

What should be taken care of first?

• the budget

• needs

• income

• wants

What does everyone choose between everyday?

• needs and wants

• needs and expenses

• budget and wants

• expenses and budget

A __________ is someone who makes a good or provides a service.

• producer

• supplier

• consumer

• economist

People who buy goods and services are called __________.

• producer

• supplier

• consumer

• economist

When a consumer doesn't buy enough of a good or service it may cause producers to __________ the cost of it.

• increase

• remove

• decrease

• cancel

What is the purpose of an advertisement?

• to raise the cost of a service

• to warn consumers it is not for them

• to bring attention to a product

• to shield customers from peer pressure

What is not a factor in purchasing?

• price

• advertising

• school

• peer pressure

What is peer pressure?

• the cost of a product

• a shortage of materials

• the influence of others

• a list of needs and wants

What are items people buy with their own money?

• public goods

• public services

• private goods

• private enterprises