Money and Banking

What is the purpose of a bank?

• To provide financial services

• To offer legal advice

• To provide medical services

• To sell groceries

What is the name of the currency used in your country?

• The currency used in my country is the Thai Baht.

• The currency used in my country is the Thai Bath.

• The currency used in my country is the Japanese Yen.

• The currency used in my country is the Euro.

What is the role of an ATM?

• The role of an ATM is to provide convenient access to banking services and perform basic financial transactions.

• The role of an ATM is to provide medical services

• The role of an ATM is to offer legal advice

• The role of an ATM is to sell groceries

Why is it important to save money?

• There are no benefits to saving money

• Spending money recklessly is more fun

• Saving money helps in building a financial cushion, preparing for unexpected expenses, and working towards long-term financial objectives.

• Saving money is only for wealthy individuals

What is the difference between a debit card and a credit card?

• A debit card requires a credit check, while a credit card does not.

• A debit card has a higher interest rate than a credit card.

• A debit card is used for online purchases only, while a credit card is used for in-person transactions.

• A debit card is linked to your bank account and deducts funds directly when used, while a credit card allows you to borrow money up to a certain limit and pay it back later.

What is interest?

• Interest is the cost of spending money

• Interest is the cost of borrowing money or the return on invested funds.

• Interest is the cost of saving money

• Interest is the cost of lending money

What is the function of a piggy bank?

• To water plants

• To cook food

• To play music

• To store coins and small amounts of money for saving purposes.

Why is it important to budget your money?

• Budgeting is unnecessary and a waste of time

• It is better to spend money freely without tracking expenses

• Debt is not a concern and can easily be managed without budgeting

• Budgeting helps track expenses, prioritize spending, save for the future, and avoid debt.

What is the meaning of 'income'?

• Income is the money borrowed by an individual or business

• Income is the money saved by an individual or business

• Income is the money received by an individual or business in exchange for providing goods or services, or through investments.

• Income is the money paid by an individual or business for goods or services

What is the concept of 'spending wisely'?

• Spending wisely is only about purchasing the cheapest option available

• Spending wisely means making informed decisions to maximize value and minimize waste by considering needs, budgeting, and prioritizing long-term goals.

• Spending wisely means buying everything you want without considering the cost

• Spending wisely involves randomly choosing items without any thought