Quiz 1 Term 88 GEP 9b-A

What does 'debt' refer to?

• An asset that increases in value over time.

• A financial term for savings accounts.

• An amount of money borrowed that must be repaid.

• A type of investment that generates income.

Who is an 'entrepreneur'?

• An entrepreneur is a person who starts and manages a business, taking on financial risks in the hope of profit.

• Someone who works for a large corporation

• A government official managing public funds

• A person who only invests in stocks

What is the purpose of 'insurance'?

• To promote gambling activities

• The purpose of insurance is to provide financial protection against risks and losses.

• To increase financial risks

• To provide free healthcare services

What does 'interest' mean in finance?

• Interest is the fee for using a credit card.

• Interest is a type of tax on income.

• Interest is the cost of borrowing money or the return on investment for savings.

• Interest refers to the total amount of money saved.

What does the word 'minor' means?

• In a small amount

• In a big amount

• something that should not exist

• FBI open up!

Why is 'nutrition' important for health?

• Nutrition is only important for weight loss.

• Nutrition has no impact on mental health.

• Nutrition is solely about calorie counting.

• Nutrition is important for health because it provides essential nutrients that support bodily functions and overall well-being.

What does 'precisely' mean?

• Vaguely or ambiguously.

• Exactly or accurately.

• Roughly or approximately.

• Randomly or haphazardly.

What is 'retirement'?

• A vacation from work for a few weeks.

• A mandatory job training program.

• A financial plan for saving money.

• Retirement is the cessation of work, typically after reaching a certain age.

What does it mean to 'set up' something?

• To criticize or evaluate something harshly.

• To dismantle something completely.

• To ignore or overlook something.

• To arrange or prepare something for use or operation.

What is a 'spare' part?

• A spare part is a type of warranty offered by manufacturers.

• A spare part is a tool used for assembly.

• A spare part is a decorative item for display.

• A spare part is a replacement component kept for maintenance or repair.