Basic Financial Literacy Quiz- Grand Finale

Which of the following is an example of a "need"?

• A new video game

• Water to drink

• A toy robot

• A fancy hat

What does it mean to "save" money?

• To spend all your money at once

• To keep some money for later

• To give away all your money

• To lose your money

Which of these is an example of a "want"?

• Food to eat

• Medicine when you are sick

• A new bicycle

• Clothes to wear

If you have #10 and you want to buy a toy that costs #15, what should you do?

• Buy the toy anyway

• Save more money until you have enough

• Take the toy without paying

• Ask for a discount and pay #5

What is a "budget"?

• A list of your favorite foods

• A plan for how to spend and save your money

• A type of bank account

• A shopping bag

Which of the following is an example of entrepreneurship?

• Doing your homework

• Starting a lemonade stand

• Playing video games

• Watching TV

If you have to choose between buying a book for #5 or a toy for #5, but you only have #5, what should you use?

• Scale of preference

• A calculator

• A piggy bank

• A shopping cart

What does it mean to "negotiate" when buying something?

• To pay more than the price

• To talk and agree on a fair price

• To take the item without paying

• To ignore the seller

If you save #2 every week, how much will you have after 4 weeks?

• #4

• #6

• #8

• #10

Which of these is the best example of a "need"?

• Ice cream

• Shoes to wear to school

• A toy car

• A comic book