Question 1

What are coins?

Accepted Answer

Small, round pieces of metal that are money, like pennies, nickels, dimes, and quarters.

Answer

Work that someone does to earn money.

Answer

Pieces of paper that are money, like one dollar or five dollars.

Answer

Pieces of paper and metal that we use to buy things we need or want.

Answer

Things that you can buy or sell, like food or toys.

Question 2

What does it mean to earn money?

Accepted Answer

When you work to get money, like doing a job.

Answer

Keeping money for later instead of spending it right away.

Answer

Using money to make more money, like putting it in a bank to earn more over time.

Answer

Getting money from someone with a promise to give it back later.

Answer

When you give money to get something you want, like buying a toy.

Question 3

What does it mean to spend money?

Accepted Answer

When you give money to get something you want, like buying a toy.

Answer

Pieces of paper that are money, like one dollar or five dollars.

Answer

Using money to make more money, like putting it in a bank to earn more over time.

Answer

Keeping money for later instead of spending it right away.

Answer

Small, round pieces of metal that are money, like pennies, nickels, dimes, and quarters.

Question 4

What does it mean to save money?

Accepted Answer

Keeping money for later instead of spending it right away.

Answer

Pieces of paper that are money, like one dollar or five dollars.

Answer

Small, round pieces of metal that are money, like pennies, nickels, dimes, and quarters.

Answer

When you give money to get something you want, like buying a toy.

Answer

Using money to make more money, like putting it in a bank to earn more over time.

Question 5

What does it mean to invest money?

Accepted Answer

Using money to make more money, like putting it in a bank to earn more over time.

Answer

Keeping money for later instead of spending it right away.

Answer

When you work to get money, like doing a job.

Answer

Getting money from someone with a promise to give it back later.

Answer

When you give money to get something you want, like buying a toy.

Question 6

What does it mean to borrow money?

Accepted Answer

Getting money from someone with a promise to give it back later.

Answer

When you give money to get something you want, like buying a toy.

Answer

Pieces of paper and metal that we use to buy things we need or want.

Answer

Using money to make more money, like putting it in a bank to earn more over time.

Answer

Keeping money for later instead of spending it right away.

Question 7

What does it mean to lend money?

Accepted Answer

Giving money to someone else with the understanding that they will give it back.

Answer

Pieces of paper that are money, like one dollar or five dollars.

Answer

Using money to make more money, like putting it in a bank to earn more over time.

Answer

When you give money to get something you want, like buying a toy.

Answer

Keeping money for later instead of spending it right away.

Question 8

What is the difference between need and want?

Accepted Answer

Need refers to something you must have to live and be healthy, like food and a home. Want refers to something you would like to have but don’t need to live, like toys or candy.

Answer

Need refers to something that is essential for survival. Want refers to something that is optional or unnecessary.

Answer

Need and want are interchangeable terms and have the same meaning.

Answer

Need refers to something you would like to have but don’t need to live, like toys or candy. Want refers to something you must have to live and be healthy, like food and a home.

Answer

Need refers to something that is nice to have, but not essential. Want refers to something you cannot live without.

Question 9

What is the definition of value?

Accepted Answer

How much something is worth in time or money.

Answer

The act of exchanging goods or services for money.

Answer

The emotional attachment or significance of an object.

Answer

A unit of measurement for time or money.

Answer

The physical appearance or condition of an object.

Question 10

What is a job?

Accepted Answer

Work that someone does to earn money.

Answer

An activity or task performed for leisure or enjoyment.

Answer

A financial arrangement involving the purchase and sale of goods or services.

Answer

A contractual agreement between an employer and employee.

Answer

A specific position or role within an organization.

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