Subjects /Economics /Assignments /

Financial Literacy: Understanding Budgeting and Credit

Answer the Following Questions in Complete Sentences

Question 1

Short answer
Define a budget:

Question 2

Short answer
How does making a personal budget lead to financial responsibility?

Question 3

Short answer
List two benefits of having a budget:

Question 4

Short answer
What are the three parts of a budget?

Question 5

Short answer
Define income:

Question 6

Short answer
Define expenses:

Question 7

Short answer
Define balance:

Question 8

Short answer
What is a deficit?

Question 10

Short answer
Define credit:

Question 11

Short answer
Why is it important to use credit responsibly?

Question 12

Short answer
Define lender:

Question 13

Short answer
Define interest:

Question 14

Short answer
What is a loan?

Question 15

Short answer
Who is a borrower?

Question 16

Short answer
What is an Annual Percentage Rate (APR)?

Question 17

Short answer
What is a credit rating?

Question 18

Short answer
Define collateral:

Question 19

Short answer
List three sources of credit:

Question 20

Short answer
What do retail store credit cards offer?

Question 21

Short answer
Which institutions provide credit to consumers with a good credit rating?

Question 22

Short answer
List two benefits of using credit:

Question 23

Short answer
List two drawbacks of using credit:

Question 24

Short answer
List three questions you should ask before borrowing:

Group 25

Credit Term - Definition

Question 25a

Short answer
APR

Question 25b

Short answer
Borrower

Question 25c

Short answer
Collateral

Question 25d

Short answer
Lender

Teach with AI superpowers

Why teachers love Class Companion

Import assignments to get started in no time.

Create your own rubric to customize the AI feedback to your liking.

Overrule the AI feedback if a student disputes.

Other Economics Assignments

11/12: Opportunity Cost of College1/8 Warm Up23S56 Essay Q1a on factors affecting effectiveness of FP2.3 Understanding Budgeting2.5 Borrowing & Insurance3.2 Variations in Econ Activities-The Economics of Volatile Oil Prices Critical Evaluation of Government Policies on Income Distribution and EquityCSQ2 iSwitch shutting downCurrent Events #1Differences between changes in quantity supplied and quantity demandied and shifts in supply and demand.Economic ChoicesEconomic Measures: Calculating Government Spending with the Spending MultiplierEconomic Systems -- Market vs. CommandEcon Test #3 Study GuideEcon Test #4 Study GuideEssay Q1a on factors affecting effectiveness of FPExplain what might cause a country’s balance of trade to be in deficitExploring Business Structures: Sole Proprietorships and PartnershipsExploring Economic Concepts: Big Government Cheese and Price ControlsExploring Unit 1 Key Economic Concepts through Real-World ScenariosHLA Economics on Income Inequality in the USAHow to Evaluate - Fiscal PolicyMAC Position Paper - Analysis of Monopoly MarketMarket Failure in the Vaccine Market MarketplaceMinimum Wage EssayUnderstanding Economic Inequality and PovertyUnderstanding Economic Principles: Demand, Supply, and Market EquilibriumUnderstanding Personal Finance: Ch 18-2 Budgeting and Credit Understanding Savings and InvestmentsUnit 1 Review QuestionsUnit 2 Essay (1a)Unit 2 Test (1a)Unit 3 FRQ- MoneylandWriting practice on the 2 factors affecting FP effectiveness