Access Economics Final Exam

If you have limited means, you _____

• have too much money.

• spend too much money.

• save enough money.

• can't have everything.

Before you buy something you want, you should buy____

• something cheap.

• something you need.

• something expensive.

• something on sale.

Tracking your spending can help you _____.

• spend more money.

• make good decisions.

• know where your money is being spent.

• spend less money.

Which of these is NOT true?

• Tracking your expenses can help you meet your budget.

• A budget helps you plan to use your money for things you need.

• A budget helps you plan to use your money for things you want.

• It's harder to keep track of your money if you make a budget.

Why is saving money important?

• Saving money can help you meet goals.

• It's important to show off how much money you have.

• It's important to fill your money jar.

• Saving money is important for spending.

Keeping track of what you earn, spend and save are key parts of a ____

• monthly allowance.

• investment strategy.

• paycheck.

• budget.

Credit is _____

• money you are given, and promise to pay back later.

• money you borrow and promise to pay back later.

• money you borrow and don't have to pay back later.

• None of the above.

Cash is _____

• money you'll borrow.

• money you'll pay back later.

• money you have today.

• money you don't have.

A debt is _____

• money you have to pay back.

• money you don't have to pay back.

• money used for needs, not wants.

• money used for wants, not needs.

Using cash is a good idea for ____

• buying small items that you can afford now.

• buying items on sale.

• buying things you can't afford.

• buying items now to pay back later.