WorksheetsPrep 5 - Economic Wellbeing
Total questions: 15
Worksheet time: 8mins
Which of the following is an example of a need rather than a want?
A new video game
A warm winter coat
Sweets
A toy robot
Why is it important to focus on needs before wants when making a budget?
Needs are usually more expensive
Needs are essential for living
Wants are always more fun
Wants help you save money
Which of the following is a source of income?
Buying sweets
Earning pocket money
Paying for a bus ticket
Spending on clothes
What is the main purpose of creating a budget?
To spend as much money as possible
To keep track of income and expenditure
To buy more wants
To avoid saving money
Which of the following is an example of expenditure?
Receiving birthday money
Getting paid for chores
Buying a book
Winning a prize
What does it mean to prioritise your needs and wants?
Spend all your money on wants first
Decide which needs and wants are most important
Ignore your needs
Only buy things you want
If you borrow money from a friend, what is your responsibility?
To spend it on anything you like
To pay it back as agreed
To keep it
To give it to someone else
Which of the following is a possible consequence of borrowing money and not paying it back?
You get more money for free
You might lose trust with your friend
You never have to pay it back
You get a reward
What is the difference between loaning and borrowing?
Loaning means giving money; borrowing means receiving money
Loaning means spending money; borrowing means saving money
Loaning means earning money; borrowing means losing money
Loaning and borrowing are the same
Which of the following is an online financial risk?
Saving your money in a bank
Sharing your bank details with strangers online
Buying from a trusted shop
Earning pocket money
What is one way to minimise online financial risks?
Share your passwords with friends
Only buy from trusted websites
Use the same password everywhere
Ignore security warnings
Which of the following is an example of workplace stereotyping?
Believing only men can be engineers
Everyone is treated equally
People are chosen for jobs based on their skills
All workers are paid the same
What is a positive action to challenge workplace stereotyping?
Ignore unfair treatment
Encourage everyone to try any job they are interested in
Only let certain people do certain jobs
Make fun of people who are different
Why is it important to match your interests with your professional skills when choosing a career?
It makes work boring
It helps you enjoy your job and do it well
It is not important at all
It makes you earn less money
Which of the following careers might suit someone who enjoys helping others and has good communication skills?
Lifeguard
Doctor
Artist
Astronaut
