Everfi Financial Literacy Module 1-3

When you must give something up in order to get something else, what is it called?

• a sound investment

• an opportunity cost

• a lost opportunity

• a limited means

Why do you need to use decision making skills if you have limited means?

• Since you are not able to have everything, you must decide what you really need.

• Making decisions is possible when you can have everything.

• You have a limited number of decisions.

• You have too much money which makes decision making hard.

Tags

NGSS.MS-ETS1-2

Food, water, shelter, and clothing are examples of _____.

• limited means

• wants

• needs

• opportunities

Which of these will not help you achieve a goal?

• Setting the goal.

• Hoping you meet it.

• Planning out steps to meet it.

• Ordering decisions by importance.

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.

Which is a reliable source of information when trying to research something you will buy?

• Friends

• Advertisements

• Expert reviews

• Social media

How is a career path different from a job?

• A career path is made up of jobs in the same field.

• A career path clearly marks how to get a job.

• A career path is a different type of work than a job.

• There is no difference --- they're exactly the same.

Why is choosing a career based on interests and skills important?

• It's more important to choose a career based on income.

• It's only important to like what you do. Skills are less important.

• It allows you to earn a salary.

• It's important to like what you do and be able to do it.

What is the difference between salary and wage?

• A salary is income based on the number of hours you work and a wage is not.

• A wage is an amount that is paid for each hour that you work but a salary is a set income paid regularly.

• A wage is income for very experienced workers.

• They are the same types of income.

If someone can cook and bake and then becomes a chef, they have chosen a career based on _____.

• salary

• interests

• income

• skills