Financial Algebra Quiz

Benjamin and David are planning their monthly budget. Can you help them identify which type of expenses stay the same every month?

• Variable Expenses

• Fixed Expenses

• Occasional Expenses

• Discretionary Spending

Emma just received her paycheck and is curious about the term for the amount left after all deductions from her gross pay. Can you help her figure it out?

• Surplus

• Gross Income

• Disposable Income

• Net Worth

Imagine you're helping Charlotte and Ethan manage their finances. What is it called when they spend more than they earn?

• Deficit

• Investment

• Surplus

• Balanced Budget

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

Hey Benjamin, can you tell us what it's called when you give up the next best thing for something else?

• Opportunity Cost

• Liability

• Scarcity

• Trade-offs

Imagine you're on a financial adventure with Daniel, Isla, and Elijah. What do you call the stash of money you keep for those unexpected twists and turns?

• Investment

• Disposable Income

• Emergency Funds

• Surplus

What is the term for the financial plan that helps you allocate your income towards expenses, savings, and debt repayment?

• Budget

• Investment Plan

• Insurance Policy

• Credit Score

When you owe money to someone or an institution, what is this financial obligation called?

• Asset

• Debt

• Equity

• Revenue

What do you call the process of setting aside a portion of your income for future use?

• Spending

• Saving

• Borrowing

• Investing