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Financial Literacy Vocabulary Quiz

Total questions: 12

Worksheet time: 36mins

Name
Class
Date
1.

A way to buy something and pay for it later

a)

Income

b)

Credit

c)

Interest 

d)

Lend 

2.

The amount of something available to buy is called __________.

a)

supply

b)

demand

c)

income

d)

charity

3.

Mowing the lawn, washing the dishes, and walking your pet are all types of ___________ (work you can do for money).

a)

Earn

b)

Human Capital

c)

Labor

d)

Interest

4.

What is the money you receive from doing work?

a)

Income

b)

Spend

c)

Earn

d)

Labor

5.

_________ means to put money aside to use in the future.

a)

Save

b)

Spen

c)

Earn

d)

Borrow

6.

What is a plan for how you will use your money?

a)

Savings

b)

Spend

c)

Budget

d)

Income

7.

What is the meaning of charity?

a)

showing disrespect to people

b)

giving money to help others

c)

buying goods and services from the store

d)

selling a good or service

8.

__________ is extra money you pay when you borrow money.

a)

Credit

b)

Loan

c)

Interest

d)

Deposit

9.

Tiffany went to the mall to __________ her allowance.

(Hint: to pay money for goods and services)

a)

Save

b)

Earn

c)

Borrow

d)

Spend

10.

What does it mean to earn money?

a)

To put it aside to use in the future.

b)

To buy something now and pay for it later

c)

To exchange or pay for goods and services

d)

To receive payment for work done

11.

__________ is how many people want to buy something.

a)

interest

b)

earn

c)

demand

d)

supply

12.

What is a physical material that humans need and value?

a)

demand

b)

resource

c)

labor

d)

charity