Personal Finance - Life Skills Semester Test 2024

What is a budget?

• A plan for how money will not be used

• A plan for how money will be used

• The amount you spend

• The amount you save

Tags

CCSS.7.SP.A.2

What is income?

• The amount you spend

• The amount you don't save

• Money taken in

Tags

CCSS.5.NBT.A.3B

What is this called?

• A Check

• A credit card

• A debit card

• Money Order

Tags

CCSS.5.NBT.A.2

Buy something now and pay for it later. 

• Credit
• Debit
• Investing
• Spending

Why do most people work?

• They want to live in big cities.

• They want earn money and supply themselves with food, clothing, and shelter.

• They want to ride on buses or trains.

• They want dress in fancy clothes every day.

Tags

CCSS.RL.8.1

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.9-10.1

a tax on retail products based on a set of percentage of retail cost

• sales tax

• property tax

• income tax

Tags

CCSS.6.RP.A.3C

is paid when you own property, such as a home

• income tax

• sales tax

• property tax

• payroll tax

Something you desire or wish for

• a "want"

• a "need"

Tags

CCSS.RL.11-12.6

CCSS.RL.6.3

CCSS.RL.7.3

CCSS.RL.8.3

CCSS.RL.9-10.3

Something you need to sustain life

• a "want"

• a "need"

Tags

CCSS.RL.8.1

CCSS.RI.8.2

CCSS.RL.7.1

CCSS.RL.7.2

CCSS.RL.9-10.2

Food

• a "want"

• a "need"