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- 1. Multiple Choice
A plan for using money is called a ___________
loan
savings
income
budget
- 2. Multiple Choice
Giving your cousin your apple in exchange for his banana is an example of
bartering
stealing
interest
saving
- 3. Multiple Choice
It is a good idea to save money.
True
False
- 4. Multiple Choice
Money is this only thing people can donate.
True
False, people can donate money and food.
False, you can donate money, food, clothes, other items, and time
- 5. Multiple Choice
What is a loan?
A fee you have to pay
Free money
A plan for using money
Something you borrow, usually money
- 6. Multiple Choice
The money you earn is called
expenses
donations
income
savings
- 7. Multiple Choice
What is INTEREST? (Choose 2 answers)
The money you save
The money you earn
Money the bank gives you for letting it hold their money
A fee to borrow money
- 8. Multiple Choice
Communities have budgets just like people do.
True
False
- 9. Multiple Choice
What is CREDIT?
Money that is not spent
A promise to pay for something
A fee
- 10. Multiple Choice
What are some of the different ways to pay for things? (Select all of the correct answers. There is more than one!)
Money
Barter
Credit
Loan
- 11. Multiple Choice
Where do banks get the money to lend to people?
They make it at the bank.
From the taxes they collect from the community.
They lend the money that other people are saving.
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