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Name a kind of DEDUCTION that might be taken out of your paycheck
Answers will vary (taxes, Social Security, Medicare, health/dental insurance, contributions to retirement savings account)
Is Cheerios a brand or a company?
It is a brand. The parent company is General Mills
Can advertisers lie about a product in an advertisement?
No - that is illegal.
True or false: Net income is the same as take-home pay
True
Which is the bigger number - net income or gross income?
Gross income; net income is what's left after taxes and other deductions are taken out.
What is one difference between a credit union and a bank?
(Answers vary) - credit unions are non-profit; you have to be a member of a credit union to have an account
Give and example of needs vs. wants
Answers vary
What is the Unit Price of the Cheerios?
24.9 cents per ounce
Is Starbucks a Brand or a Company?
It is a company.
Why is it a good idea to look at a unit price when shopping?
Because it is the easiest way to compare prices on different sizes of the same item
Which product is the better deal?
The larger size because it has a lower UNIT PRICE (although sometimes it makes sense to get the smaller size anyway!)
You need a loan for $10,000. Is it better to pay $120/mo. for 10 years or $202/mo. for 5 years?
Ideally, $202 for 5 years. You pay over $2000 extra interest for the additional 5 years.
When you borrow money, would you rather have an interest rate of 4% or 6%?
4%! The higher the interest rate, the more money you will have to pay back on TOP of what you borrowed!
Give an example of an OPPORTUNITY COST of going to college
Not being able to work full time.
True or false: all your money is protected (safe) in a bank
Mostly true - all accounts up to $200,000 are protected by the FDIC
True or false: Once you put money in a savings account, it has to stay there for at least a year
false
True or False: You earn interest in a checking account
false
What is the difference between a brand and a company?
A brand is a product or group of products sold by a larger company.
What is the Ticker Symbol for Netflix?
NFLX
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