Financial Literacy Daily Grade 6

The amount of money a person can earn is a certain amount of time, usually a year is called?

• Income

• Salary

• Labor

• Human Capital

A person with more experience at their job usually makes more money.

• True

• False

Tags

CCSS.RI.4.1

CCSS.RI.5.1

CCSS.RI.6.1

CCSS.RL.4.1

CCSS.RL.5.1

A store has too many toys and not enough shelf space to display them all. What should the store do to sell the toys quickly?

• Limit the number of toys on display to create demand.

• Lower the price of the toys

• Create scarcity to drive up the price of the toys

Tags

CCSS.RI.3.3

CCSS.RI.4.3

CCSS.RI.5.3

CCSS.RI.6.3

CCSS.RI.7.3

What is a benefit to having a savings plan and money in a savings account?

• You can earn interest.

• You can go into debt.

• You can pay for college.

The Jones family wants to go on a cruise. The cost of the cruise is $3,500. They can save money each month before the cruise and pay $3,500. They can also get a loan for the cost of the cruise and make monthly payments after the cruise, which would total $3,750. Why would it cost more to get a loan and pay after the cruise?

• The Jones family will buy souvenirs.

• The Jones family will need to pay interest on the money they borrowed.

• The Jones family may invite another guest.

Which of the following questions is NOT important in making decisions about income?

• How will I earn incomes?

• How many credit cards should I have?

• Will increasing my skills or education increase my income?

Person A: has a college degree. Person B: has a high school diploma. Which person will likely earn a higher income?

• Person A

• Person B

• Not enough information, because the level of education does not affect income.

Why do many employers offer a higher salary to employees who have worked with their company longer?

• They are older and need more money.

• They have more children and higher expenses.

• They have more job experience.

Tags

CCSS.RI.1.9

CCSS.RI.2.9

CCSS.RI.4.8

CCSS.RL.1.5

CCSS.RL.4.5

Which of the following would require a person to pay interest?

• Saving for college

• Using cash to pay for an item

• using a credit card to pay for an item

• writing a check to pay for an item

Davin sold lemonade at his family reunion. What are the people called that purchased his lemonade?

• Consumers

• Producers

• Renters

• Workers

Tags

CCSS.RI.2.1

CCSS.RI.3.2

CCSS.RL.3.1

CCSS.RL.3.2

CCSS.RL.4.1