Problem Solving
Where can you put your money?
Bank
How many people want an item
Demand
Why do people compare prices before buying something
To get the best deal
What is money earn caled
Income
What does a price tag tell you
How much much somethig cost
You have $20 you buy 2 items for $7.00 each. How much do you have left
What is $6
How much of goods there are
What is called Supply
What is it called when people borrow and pay for something? Example: a house mortgage
A loan
What is it called when a business pays all expenses and has money left over?
It's called a profit
What is called when a person has to pay all the bills to run a household?
It's called expenses
What does surplus mean?
When the supply or good is more then the demand
A plan to tell where your money can go
What is a budget
What is it call when people pay extra money when they borrow a loan?
What is interest
Set aside money to pay for something
allocate
This is what you have to pay back
You owe money
What is $3.25
Why needs is before wants, Explain both
Needs are necessary to live. Want you can get it later.
Which is worth more than half a dollar or 0.75 cents
$0.75 is more
What do we call money we get from work?
Salary/ Income
Why is saving important?
For future needs or emergencies
You have $20. You buy 2 items that cost $7.00 each. How much is left?
What is $6.00
When there is a more demand then a supply
What is that called, Scarsity
What combination equals $1. 4 quarters or 10 nickles.
What are 4 quarters?
If you earn $100,000 a year, you'll have enough to pay for expenses and all you need. What is the remaining amount called
What are savings?
If you save $2.00 each week. How much will you have in 5 weeks?
What is $10 dollars?