National 5 Economics - Personal Economics
Authored by Lorna Boag
Other
10th Grade
Used 1+ times
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42 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is income?
Cash going out
Cash coming in
Cash saved
Cash borrowed
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a source of income that does not need to be repaid?
A loan
A grant for education
A credit card advance
A mortgage
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a loan?
Money given as a gift
Money that must be repaid
Money earned from a job
Money received from a scholarship
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one reason people might save money according to the text?
To buy more expensive clothes
To spend every penny of their income
To save for a "rainy day"
To increase their utility bills
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of spending on leisure?
Paying utility bills
Buying ingredients for meals
Going to the cinema
Purchasing work clothes
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What might people do if the economy is not doing well?
Spend more on holidays
Save some of their income "just in case"
Buy more expensive goods
Increase their spending on sports activities
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do people need to create a budget when they save?
To increase their spending
To plan to put aside cash
To buy more clothes
To spend more on travel
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