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Financial Literacy Vocabulary Quiz

Total questions: 20

Worksheet time: 2hrs 40mins

Name
Class
Date
1.

The ability to understand how money works in the world

(a)  

2.

Costs that remain the same in price and frequency

(a)  

3.

Costs that may vary or be unpredictable

(a)  

4.

a “pay later” payment option

(a)  

5.

a “pay now” payment option

(a)  

6.

A person who purchases goods and services

(a)  

7.

The demand for a product or service is greater than the availability of the product or service

(a)  

8.

A written way of tracking income, expenses and goals 

(a)  

9.

A rise in the general price of goods and services over a period of time

(a)  

10.

To commit money in an attempt to earn more money back

(a)  

11.

  1. 1) an amount of money given to be held in a bank account

  2. 2) A down payment (an initial and partial payment towards a large purchase)



(a)  

12.

An amount of money taken from a bank account

(a)  

13.

A share in the ownership of a company

(a)  

14.

An agreement to lend money to a company for a certain amount of time

(a)  

15.

The extra money added over time when you’ve saved/lent or borrowed money

(a)  

16.

When you earn interest on the initial amount of money you've saved/lent/ borrowed AND on the interest you earned since then

(a)  

17.

the act of investing money in different opportunities 

(a)  

18.

Design elements that deliberately trick consumers

(a)  

19.

Money that people must pay to the government




(a)  

20.

Money that a borrower owes to a lender

(a)