Financial Literacy 3.4C,P.F.L 3.9E

Some kids can earn_______________ by cutting grass.

• savings

• income

• interest

• labor

Bobby got a summer job selling lemonade from 10 AM to 5 PM. The more glasses of lemonade that Bobby sells-

• the more hours he has to work.

• the less income he will earn.

• the more income he will earn.

• the amount of glasses he sells has no effect on his income.

If you have to borrow money from the bank, the bank will become your-

• lender

• borrower

• savings plan

• income

If you go to the grocery store and you notice that there are no avocados for sale. You ask the clerk when they will be getting more and they notify you that there is a shortage of avocados and there's not telling when they will get more. This is known as-

• supply

• scarcity

• demand

• overspending

Scarcity is

• when there is too much of a specific good

• when you have more money than expected

• when there is not enough of a specific good

• when you don't have enough in your savings

To earn $25.00 how long do you have to save $5.00

• 4 weeks

• 5 weeks

• 6 weeks

• 1 week

If you make $7.00 a week for 6 weeks, how much money will you have.

• $71.00

• $17.00

• $42.00

• $56.00

Tags

CCSS.3.OA.A.3

Ingrid went to the bank to borrow $2,500 for her summer vacation. When Ingrid finishes paying the bank back, she will have paid back a total of $3,000. Why has Ingrid payed back more than she borrowed?

• She made a mistake and accidentally paid more than she needed to.

• She paid interest on the loan she got.

• The bank actually lend her more than the $2,500 she had asked for.

• She decide to donate extra money to the bank for lending her the money.

Lauren has been earning money for babysitting her younger siblings for 2 hours after school Monday through Friday. She is not spending her earnings. Instead, she is setting it aside to be able to buy a hoverboard she really wants. This is an example of-

• spending

• interest

• savings

• borrowing

Which is an example of scarcity?

• our class has 20 iPads and 25 students

• our class has 1 iPad and 25 students

• our class has 25 iPads and 25 students

• our class has 30 iPads and 25 students