Financial literacy (2025)

What are items that people make and use called?

• Goods

• Services

• Needs

• Producers

Tags

CCSS.RI.7.2

CCSS.RI.8.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2

What are things we must have to stay alive?

• Wants

• Goods

• Needs

• Services

What are services?

• Physical objects people use

• Actions or activities one person performs for another

• Things we want but do not need

• Items we can buy or use

What are things we would like to have but do not need for survival?

• Needs

• Goods

• Wants

• Services

Which of the following is an example of a service?

• Books

• Jewelry

• Someone who cuts your hair

• Calculators

What do you use to pay for a good or a service?

• Goods

• Services

• Money

• Producers

Which of the following is NOT a physical object that is considered a good?

• Shoes

• Chairs

• Getting food brought to your table

• Calculators

What is cryptocurrency?

• A digital or virtual currency

• A type of paper money

• A form of gold-backed currency

• A government-issued coin

Why is 'durability' an important characteristic of money?

• It ensures that money can withstand physical wear and tear

• It makes money more valuable

• It allows money to be easily divided

• It helps money to be easily transported

What is the primary function of money that allows it to be used for transactions between parties?

• Medium of Exchange

• High Demand

• Durability

• Flexibility