Week 21: Budgets

Last updated about 6 years ago

12 questions

Week 21: Budgets

Last updated about 6 years ago

12 questions

Question 1

Income is ______________. (Save a Dollar, Spend a Dollar)

a way of saving money

money

earned money

spent money

Question 2

Which president in American history was the leader of the Revolutionary War? (Were our Founding Father's Rich?)

Washington

Hamilton

Jefferson

Adams

Question 3

When we take the time to determine how we are going to spend our available money is referred to what? (Mind Your Money)

buying a toy

allowance

balancing a bank accoutn

budget

Question 4

What can you conclude is the primary difference between desired (wanted) items and necessities? (Mind Your Money)

Wanted items are the money our parents need for bills, whereas needed items are the monies they need to take us to school

Needed items are the games that I need for my game system, wherea as a wanted item is money for my school lunch

Wanted items are the clothes I need to wear to school

Needed items are those things I require to survive and wanted items are those items I desire to have for my personal pleasure

Question 5

Madison's monthley budget is detailed in the text. Determine how much money Madison requires for those items that she desires to have. (Mind Your Money)

$380.00

$225.00

$500.00

$115.00

Question 6

The ______ has to write a budget for our nation. (Who's Budgeting?)

president

vice president

mayor

principal

Question 7

Budgets help families, governments, and businesses to ______. (Who's Budgeting?)

spend money on whatever they want

save money

pay attention to their business and let their finances take care of themselves

pay attention to their finances and balance their wants and needs

Question 8

What happens when the supply is small? (Going Bananas Over Food Prices)

The price stays the same.

The price decreases.

The price increases

The supply needs to be replenished.

Question 9

What does scaricty mean?

It means not having enough of something.

It means having enough just to get by.

It means having too much of something.

It means we have an abundant food supply.

Question 10

10.

A gift of money or other items is _______. (Vocabulary)

a budget

scarcity

a donation

an abundance

Question 11

11.

Money set aside to buy things in the future is _____. (Vocabulary)

earnings

savings

budgeting

expenses

Question 12

12.

Money that you spend is called ________. (Vocabulary)

earnings

savings

budgeting

expenses