Worksheets3rd 9 weeks exam
Total questions: 40
Worksheet time: 20mins
If you have limited means, you _____________.
have too much money
spend too much money
save enough money
can't have everything
When you must give something up in order to get something else, it is called ___________.
a sound investment
an opportunity cost
a lost opportunity
a limited means
An opportunity cost can make decision making difficult because _______.
you must choose to give up some things in order to get other things
the cost might be extremely high
it's hard to make decisions about opportunities
you may only get the opportunity once
Before you buy something you want, you should buy ________.
something that is cheap
something you need
something expensive
something on sale
Food, water, shelter, and clothing are examples of ____________.
limited means
wants
needs
opportunities
Setting a goal lets you ___________.
achieve nothing
forget next steps
achieve what you want to do
spend more money
When you have a goal, you can ___________.
plan out steps to achieve it
avoid bad decisions
buy more of what you want
buy more of what you need
Tracking your spending can help you ____________.
spend more money
make good decisions
know where your money is being spent
spend less money
Which of these is not true?
Tracking your expenses can help you meet your budget.
A budget helps you plan to use money for things you need.
A budget helps you plan to use your money for things you want.
It's harder to keep track of your expenses when you make a budget.
Why is saving money important?
Saving money can help you meet goals.
It's important to show off how much money you have.
It's important to fill your money jar.
Saving money is important for spending.
Buying a cheaper product sometimes can help you ___________.
create a budget
reach a savings goal
afford an opportunity cost
track spending
If you have a budget, you have ____________,
afford nicer things
spend all the money you want
a plan for using your money over a set period of time
a good idea of how much money you'll make
Keeping track of what you earn, spend, and save are the key parts of a ____________.
monthly allowance
investment strategy
paycheck
budget
Which is a reliable source of information when trying to research something you will buy?
Friends
Advertisements
Expert Reviews
Social Media
When you want to buy something, which kind of information may not give you the best information?
Reliable information
Expert reviews
Trustworthy information
Product advertisements
A job is _________.
something you need to do
something you do to earn money
something you do when your are bored
something you are told to do
A career is ___________.
a single job you have once
the kind of job most people have
the type of job you do for a long time
the way you save money
How is a career path different from a job?
A career path is made up of jobs in the same field.
A career path clearly marks how to get a job.
A career path is a different type of work than a job.
There is no difference---they're exactly the same.
What would be an example of a money making opportunity for a person your age?
A lemonade stand
Fixing your family car
Riding a bike
Painting your neighbor's house
Imagine a neighbor needs help with their yard. What would you need in order to turn that into a money making opportunity?
Other customers
Tools and skills to do the work
Opportunity cost
None of the answer choices
Why is choosing a career based on interests and skills important?
It's important to like what you do and be able to do it.
It's more important to choose a career based on income.
It's only important to like what you do. Skills are less important.
It allows you to earn a salary.
What is difference between salary and wage?
A salary is income based on the number of hours you work and wage is not.
A wage is an amount that is paid for each hour that you work but a salary is a set income paid regularly.
A wage is income for very experienced workers.
They are the same types of income.
Cash is __________.
money you'll borrow
money you'll pay back later
money you have today
money you don't have
Credit is ___________.
money you are given and promise to pay back later
money you borrow and promise to pay back later
money you borrow and don't have to pay back later
none of the answer choices
A debt is ______________.
money you have to pay back
money you don't have to pay back
money used for needs, not wants
money used for wants, not needs
Why is a credit card a type of debt?
Credit cards are only used in stores and not between friends.
Credit card companies charge a small fee to use them.
Using a credit card is borrowing money that needs to be paid back later.
Using a credit card allows you to earn points and rewards.
Using cash is a good idea for ________.
buying small items you can afford now
buying items on sale
buying things you can't afford
buying items now to pay back later
When is using a credit card a good idea?
You want something now that you can't afford ever.
You have the money to buy what you need now.
You want something and have included it in your budget.
You need something now but won't have the money until the next time you get paid.
A credit history is ________________.
the first step in creating a budget
a record of money you spend
a record of how you pay back money you borrow
the same thing as a bank statement
When your credit history is good, ___________.
it's easier to spend your money
other people are more likely to lend you money
it's easier to budget your money
you can get a better job
Why is it important to save money?
Savings allow you to buy the things you want or need at a later time.
Savings help you to buy things now.
Saving money helps you live longer.
Saving money is like any exercise, it makes you healthier and stronger.
What is the connection between goals and savings?
Goals can give you a reason to save.
You can buy goals.
You can save goals.
Goals are not connected to savings.
Where would you start a savings account?
A jar in your backyard.
A financial institution.
An envelope in your room.
All of the answer choices.
Savings accounts ___________.
can help you reach your savings goals faster
make paying credit cards easier
help you spend more money
can get you into debt more easily
Interest earned on a savings account is _________.
the percentage of money you spend per month
the percentage of financial institution pays you to borrow your money
the percentage of your budget you spend
the percentage of your budget you don't spend
Insurance can help ___________.
add money to a savings account
in an emergency
with making ends meet regularly
none of the answer choices
Why might a stock be an investment that can have some risks?
You can lose money if the business you own stock in does not do well.
Stocks usually do well in the long run.
There can be some fees charged as you buy stocks.
You can earn a lot of money if the business you own stock in does really well.
How can insurance help with meeting savings goals?
Insurance companies can quickly use your savings to pay for emergencies.
You can have a savings account with an insurance company.
Insurance pays for some costs of an emergency so you can keep your savings.
Financial institutions give higher interest rates for people who have insurance.
Cutting back on expenses can help you save money, which will ____________.
help you afford nicer things
add up fast and help you save for your goal
help you spend more money
help you choose the right investments
If someone likes animals and then becomes a zookeeper, they have chosen a career based on _______.
income
skills
interests
abilities
