Financial Literacy

Going to work at a job is a way to....

• get fired

• earn money or INCOME

• make new friends

• buy a motorcycle

Monica has a store selling her special t shirts. Everyone wants her shirts, because they are so cool!

Because there is a great demand for the shirts, Monica can....

• lower the price of the shirts

• raise the price of the shirts

• sell matching shoes

What would happen if Monica has to sell her shirts for less than it cost her to make them?

• She would make no profit

• She would make great profit

• Nothing will happen

• She would have to take out a loan

Johnny borrowed $10,000 from the bank to buy a Jeep. Over the next several years, he ended up paying the bank $10,750. Why did he have to pay the bank more than he borrowed?

• The bank tricked him.

• The bank had to charge interest.

• Johnny is not very smart.

Scarcity is

• when there is too much of something

• when there is too many of something

• when there is not enough of something

• when you are afraid to lose all your money

Supply is

• having your school materials

• wanting to buy more stuff

• having enough materials

If you have to sell something for less than what you paid for it you will

• make no profit

• make a profit

• break even

• be a salesperson

If you sell something for more than what you paid for it, you will

• make a profit

• make no profit

• have a clearance sale

• win a salesforce award

What is a good reason to save money?

• buy a double meat cheese burger

• purchase a car when I get my driver's license

If you make $7.00 a week for 6 weeks, how much money will you have?

• $71.00

• $17.00

• $42.00

• $56.00