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Financial Literacy

Total questions: 18

Worksheet time: 9mins

Name
Class
Date
1.

An item that can be purchased by a consumer... you can actually hold or touch it

a)

needs

b)

goods

c)

services

d)

wants

2.

Something people or businesses do for other people for payment

a)

needs

b)

goods

c)

services

d)

wants

3.

A WANT is something that you cannot live without. You must have it to stay alive and well.

a)

True

b)

False

4.

A WANT is something that you can live without but it is nice to have and it makes you happy.

a)

True

b)

False

5.

To give something away for a good cause

a)

charity

b)

donate

c)

support

d)

deposit

6.

A business where people deposit and withdraw their money and borrow money

a)

Bank

b)

City Hall

c)

School

d)

Library

7.

Money put into your bank account. When you make one, your account balance goes up.

a)

withdraw

b)

loan

c)

debt

d)

deposit

8.

Money taken out of your account, when you make one, your account balance goes down.

a)

withdraw

b)

loan

c)

debt

d)

deposit

9.

A type of account held at a bank that earns interest

a)

checking account

b)

savings account

c)

credit card

d)

debit card

10.

A type of account that allows you to easily deposit and withdraw money for daily transactions

a)

checking account

b)

savings account

c)

debit card

d)

credit card

11.

A plan that you make to keep track of your money and where it's going

a)

loan

b)

debt

c)

budget

d)

interest

12.

Something that is borrowed, often money, which has to be paid back with interest

a)

deposit

b)

interest

c)

loan

d)

withdraw

13.

Amount of money that you owe someone that needs to be paid back

a)

late fee

b)

interest

c)

debt

d)

savings

14.

Like a digital wallet, this card takes money from your account when a purchase is made

a)

credit card

b)

debit card

15.

A fee paid for borrowing money or money earned on a savings account

a)

credit

b)

debit

c)

debt

d)

interest

16.

A card that allows you to buy now and pay later, BUT it comes with greater risks

a)

credit card

b)

debit card

17.

Individuals or companies that create or provide a certain good or service

a)

Producers

b)

Consumers

18.

The people who buy goods and services

a)

Producers

b)

Consumers