Personal Financial Literacy

Which factors affect human capital?

• Shopping Habits and Hobbies

• Age and Height

• Experience and Skills

Which is an example of a person earning wages?

• Nathan works as a cashier at a grocery store and gets paid weekly.

• Eden volunteers at a school once a week.

• Rebeca donates money to the pet shelter.

Tags

CCSS.RI.3.3

CCSS.RI.4.3

CCSS.RI.5.3

CCSS.RI.6.3

CCSS.RI.7.3

A candy store has 380 chocolate bars available to sell. There are 7 people in the store who want to purchase a chocolate bar. Which best describes the situation?

• High Supply and High Demand

• High Supply and Low Demand

• Low Supply and High Demand

• Low Supply and Low Demand

A summer drought destroyed many banana trees in one of the largest farms in a country. What is most likely to happen to the price of bananas?

• The price will likely decrease, because there are more bananas.

• The price will likely increase, because there are more bananas.

• The price will likely increase, because there are less bananas.

• The price will likely decrease, because there are less bananas.

Which is NOT an example of planned spending?

• Brenda made her monthly car payment of $425.

• Esteban’s refrigerator suddenly broke down. He had to purchase another refrigerator for $900.

• Aida budgets $150 for groceries each week. This week she spent $142 on groceries.

Jacob wanted to purchase a new dining room table. He saved $300 each month for five months to collect enough money to buy the table.

What type of spending was the purchase of the dining room table?

• Planned Spending

• Unplanned Spending

Which is an example of credit?

• Jake uses the $5 in his pocket to purchase a snack.

• Ericka receives $150 as a birthday gift from her friends.

• Alejandra borrows $50 from her dad to purchase a game.

Troy borrowed $10,000 from a bank to have a swimming pool installed in his backyard. He paid the bank back $12,000. Which is the most likely reason that Troy paid the bank more than what he borrowed?

• Troy realized that the cost to install the swimming pool was actually $12,000.

• Troy paid back interest on the money that he borrowed.

• Troy gave the bank more money than he needed to pay to say thank you to the bank.

Tags

CCSS.7.NS.A.3

Which is an example of a person using credit to make a purchase?

• Carmen uses a credit card to purchase a video game system for $300. She must pay back the $300 plus interest.

• Hector withdrawals $100 from his bank account to purchase a new pair of shoes.

• Rebeca had a $10 bill in her purse. She gave the $10 bill to her daughter as a birthday gift.

Which of the following is an example of saving money?

• Mayra uses her $35 allowance to purchase a new toy.

• Edgar places the $45 he earned from painting his neighbor’s fence in his piggy bank.

• Sandy’s mom gives her $50. Sandy spends the money at the fair.

• Juan purchases a new game controller for $28.