Finance Quiz 1

What are the 4 parts of the Market Economy Structure?

• Money, Offer and Demand, Taxes, Debt

• Enterprise, Offer & Demand, Budget, Loans

• Budget, Trips, Money, Cash

An emergency fund should NOT be used for...

• fixing a blown tire on your car that you use to get to work.

• repairing your laptop that you use for homework.

• a last-minute school trip.

• a sudden health issue that needs care.

What should be considered when setting a budget?

• Needs and wants

• Time management goals

• Savings

• Needs, wants, and savings

Making a good purchasing decision requires __________.

• comparing the prices of similar items

• reading reviews of the product

• waiting until the product is on sale, if possible

• All of the above

Explain what Offer & Demand is in your own words

Which of these are steps for creating a budget?

• Defining the actual financial state

• Establishing objectives

• Determining costs

• Constantly checking the budget

• All of the above

The money that you receive every period of time is called an ______

List at least 3 types of Loans

Explain what a Study Loan is.