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WorksheetsUnit 1 Review (2021)
Total questions: 15
Worksheet time: 9mins
Which of the following represents a NEED in your budget?
Netflix subscription
House payment or Rent
Starbucks daily coffee
Cell phone unlimited data plan
Why are needs and wants important for budgeting?
It will help you prioritize your spending
It doesn't matter now in life
This only matters for adults
You can only purchase needs but not wants
When the newest iPhone 12 came out, the demand was really high. According to our notes, what might that have meant for the supply of iPhone 12s at local stores?
Supply was probably low
Supply was probably high
Supply was probably equal to demand
Supply is not affected by demand
When interest rates for homes are really low, a lot of people want to buy homes. While this is great for sellers, since the demand is high, why might it be hard for buyers?
Homes will sell slow, leaving a high supply of options
Homes will sell fast, leaving a low supply of options
Homes are not affected by supply and demand
Homes will be cheaper for buyers
Which scenario represents SURPLUS?
Concert tickets being SOLD OUT
Clearance aisle
Which scenario represents SCARCITY?
Clearance aisle
Concert tickets being SOLD OUT
What can you do at COMMERCIAL or RETAIL BANKS?
Open a checking account
Open a savings account
Apply for a car loan
All of the above
What can you do at an INVESTMENT FIRM?
Prepare for retirement
Talk to a financial advisor
Manage your retirement account
All of the above
What can you do through an INSURANCE company?
Insure your home
Insure your car(s)
Insure your land / property
All of the above
What can you NOT do at a CREDIT UNION?
Open a checking account
Open a savings account
Get insurance for your home
Get a loan for your home
What can you NOT do at an INVESTMENT FIRM?
Open a checking account
Check your 401K balance (retirement)
Take money out of your retirement
All of the above
What is the purpose of a MORTGAGE company?
To apply for home loans
To manage your home loans
To make payments on your home loans
All of the above
What type of account has the following features?
-"locks" your money away for a specific period of time
-You are charged a fee for taking out this $ early
-If you need to build a credit score, this account can help
Retirement account
Certificate of deposit
Checking account
Savings account
ATM cards allow you to...
Take money out of checking or savings @ an ATM
Pay for groceries at WalMart
Purchase airplane tickets online
Make a payment to your electric bill
Debit cards are different from Credit cards because...
Debit cards do not allow you to go into debt
Debit cards are tied to money in your checking account
Debit cards do not affect your credit score
All of the above
