Financial Literacy
What is the difference between a debit and credit card?
A credit card is when you borrow money from the bank and a debit card is when the money comes directly out of your bank account when used.
What is the difference between a logo and a slogan?
A logo is an image or a graphic to represent a brand and a slogan is a catch phrase for a business.
What is a Career Cluster?
A group of similar careers.
What is something you must have to live called?
Need
What is one risk of starting your own business?
losing money, failure, uncertainty
A spending plan so you do not over spend your money.
Budget
What is the difference between a small and large business?
A small business is typically family owned, may have a few locations. A large business is a major corporation where they are typically found in multiple, states to countries.
What is a trade school?
A trade school is a place you go after high school to learn a specific job by doing hands-on work, like fixing cars, welding, or becoming a chef. Instead of 4 years of college classes, you finish in 1–2 years, learning only the skills needed for that job, leading to a certificate.
Give 3 examples of needs and 3 examples of wants.
Needs: food, shelter, clothing.
Wants: video games, designer shoes, concert tickets, etc.
What do we call a plan that explains how a business will run?
Business plan
Name 2 reasons why it is important to have a good credit score.
To increase credit limit, to take out a loan, for renting, buying a house, or employment.
Name 3 Advertising Techniques that we learned in class and what they are.
Celebrity Endorsement: Using a celebrity to help sell a product.
Bandwagon: Making people feel left out from your ad.
Sales Incentive: A discount or sale for your product
Facts & Figures: Facts or statistic in your ad.
Expert Opinion: Using an expert in your ad
Rhetorical Question: Using a question in your ad
Name 3 types of college degrees.
Associate Degree,
Bachelor's Degree
Masters Degree
Doctoral Degree
Why is it risky to spend all your money and save none?
No money for emergencies or future goals
What is the difference between a wage and a salary?
A wage is per hour and a salary is per year.
What is interest?
A fee on borrowed money.
An individual who provides money to help start a business in exchange for potential profit.
Investor
Name 3 questions a job application may ask you?
You buy something with a credit card but don’t pay it off right away. What might happen?
You are charged interest / go into debt
You love working with your hands and don’t want a 4-year college. Where could you do after high school?
Trade school
What is gross pay?
What do you call the group of people a business is trying to sell to? Ex. They look at their age, location, interests, etc.
Target audience
What is the difference between business professional and business casual outfits?
Business professional: Suit, tie, blazer and trouser pants.
Business Casual is a more relaxed, comfortable blend that allows for personal style while still looking neat and polished.
When looking at a pay stub, you notice taxes were taken out. The amount you receive AFTER taxes is called what?
Net pay
What are 3 do's or don'ts when interviewing?
-Be on time
- dress accordingly (professional)
- be prepared
-dress business professional
-bring required documents