Understanding Financial Concepts

What is a business where people can save their money or borrow money?

• Library

• Bank

• School

What does it mean to borrow something?

• To keep something forever

• To ask to use something and then give it back later

• To buy something new

What does it mean to buy something?

• To get something for free

• To pay money to get a good or service

• To borrow something

What are coins and bills used to pay for things called?

• Credit card

• Cash

• Loan

What is a piece of paper that uses money from a bank account to pay for things?

• Cash

• Check

• Credit card

What is a card that uses money that is borrowed and must be paid back to pay for things?

• Cash

• Credit card

• Gift card

What is a card that uses money from a bank account to pay for things?

• Credit card

• Gift card

• Debit card

What does the term "demand" refer to?

• How much people want or need to buy something

• The price of an item

• The supply of goods

What is an item that is made or grown in order to be sold called?

• Service

• Good

• Currency

What is something you must have and can’t live without?

• Want

• Need

• Sale