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G3 SS TERM 3 SPRING REVIEW
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When making decisions on how to use money wisely, making a good ___________________ is a good plan to have.
 
budget
 
choice
Capital is anything that _____
 
has monetary value
 
can be eaten
Buying things you NEED FIRST and THEN buying things you WANT is a smart _____
 
choice
 
capital
Do you think making a budget every month is a smart choice?
 
YES
 
NO
monetary value means
 
cost or price (Total of money)
 
if something is a want or need
This is an example of ________
 
income
 
tradeoff
This is an example of ________
 
choices
 
income
TRUE OR FALSE. You ALWAYS get paid for doing chores
 
FALSE
 
TRUE
TRUE OR FALSE. A house is an example of capital
 
TRUE
 
FALSE
TRUE OR FALSE. Food is an example of capital
 
FALSE
 
TRUE
TRUE OR FALSE. Budgets are only needed for people who earn a lot of money
 
FALSE
 
TRUE
TRUE OR FALSE. It is NOT important to look at the cost and benefits of something before you buy it
 
FALSE
 
TRUE
What is this? Want or need?
 
need
 
want
What is this? Want or need?
 
need
 
want
What is this? Want or need?
 
need
 
want
What is this? Want or need?
 
want
 
need
What is this? Want or need?
 
want
 
need
What is this? Want or need?
 
want
 
need
TRUE OR FALSE. A budget is a plan for using and saving money
 
TRUE
 
FALSE
What is this man doing?
 
Making a budget
 
Using capital
another word for TRADE
 
exchange
 
change
what is this?
 
income
 
choices
chores are usually ________ jobs you do for your family
 
unpaid
 
paid
doing the dishes is an example of ___________
 
chores
 
choices
a house is an example of _______
 
capital
 
earning
 
chores
a car is an example of ________
 
capital
 
income
the picking or deciding of one item over another
 
choices
 
chores
earn
 
to receive something in exchange for work or services (wages
 
the picking or deciding of one item over another
to give something to someone and receive something from them in return; to trade an item for another item
 
exchange
 
tradeoff
Getting money(salary/payment) in return for your work or services
 
earning
 
choices
budget
 
a plan for saving or spending money over a period of time
 
money that comes in from labor(work you’ve done), business o
all things that a person owns that has monetary value (cash, car, home, personal property, warehouse, machines, tools, etc.)
 
capital
 
income
a duty or job you must do even if you think it is unpleasant and unpaid
 
chores
 
income
Giving up one thing to buy something else you think is better.
 
tradeoff
 
exchange
benefits
 
Good/helpful things that you get from something.
 
to receive something in exchange for work or services
to buy something
 
purchase
 
earning
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