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G3 SS TERM 3 SPRING REVIEW

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