Multiple Choice
Investments are:
A) putting money into something in order to make a profit.
B) the withdrawing of money from a bank
C) a financial planning service
D) a share market scam
A) putting money into something in order to make a profit.
Which payment method involves borrowing money?
Credit card
A debit card allows you to spend money directly from your bank account.
TRUE
What do you call people, businesses, or governments that invest money?
Investors
What payment method uses money directly from your bank account?
Debit card
Which of the following forms of investment is specifically aimed at assisting a person when they retire?
A) shares
B) property
C) superannuation
D) term deposit
C) superannuation
Name one essential elements of a contract?
offer, acceptance, and consideration.
A contract must always be written to be legal.
False
Which form of investment helps people save for retirement?
Superannuation
What is the document that outlines an agreement between two parties called?
Contract
An ................................. portfolio is a collection of all the investments an individual has.
A) dividend
B) niche
C) investment
D) gains
C) investment
An example of a non-durable good?
food, such as bread or milk, because it is used quickly and does not last a long time.
Rent is usually considered a fixed expense.
True
What is a collection of investments called?
Portfolio
What is a person’s financial plan called?
Budget
An investor’s share of a company’s profit is called a:
A) salary
B) portfolio
C) savings
D) dividend
D) dividend
Give an example of a need rather than a want?
Designer shoes
Mobile phone case
School uniform
Video games
School uniform
Ethical consumerism involves buying products that are socially and environmentally responsible.
True
What is money kept in a bank for future use called?
Savings
What is a financial institution that stores and lends money called?
Bank
A mortgage is money that is borrowed to purchase
A) a car
B) a house or land
C) a holiday
D) shares
B) a house or land
Which organisation helps protect the rights of consumers in Australia?
Fair Trading
A credit card uses only your own money from your bank account.
False
What is it called when investment expenses are greater than earnings?
Negative gearing
What is money earned from shares called?
D