explain that credit is used when wants or needs exceed the ability to pay and that it is the borrower's responsibility to pay it back to the lender, usually with interest
explain the connection between human capital/labor and income
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Q 1/4
Score 0
Bad weather destroyed most of the peaches on the peach trees in an orchard. This will have an effect on the price of the remaining peaches. Which statement best describes the effect on the price?
60
The price will likely increase, because there are fewer peaches available to buy.
The price will likely decrease, because there are fewer peaches available to buy
The price will likely increase, because there are more peaches available to buy
The price will likely decrease, because there are more peaches available to buy.
Q 2/4
Score 0
Claire borrowed $20 from her mom in order to buy game tokens at a festival. Her mom said Claire would have to pay the money back with interest. Which statement best explains what Claire’s mom meant?
60
She expected Claire to keep the money she borrowed and not pay any of it back.
She expected Claire to pay back the money she borrowed plus an additional amount of money.
She expected Claire to pay back only part of the money she borrowed.
She expected Claire to pay back only the money she borrowed.
4 questions
Q.
Bad weather destroyed most of the peaches on the peach trees in an orchard. This will have an effect on the price of the remaining peaches. Which statement best describes the effect on the price?
1
60 sec
3.9.B: Personal Financial Literacy
Q.
Claire borrowed $20 from her mom in order to buy game tokens at a festival. Her mom said Claire would have to pay the money back with interest. Which statement best explains what Claire’s mom meant?
2
60 sec
3.9.D: Personal Financial Literacy
Q.
Mrs. Williams borrowed $6,000 from a bank to pay for some home repairs. She paid $7,500 back to the bank. Which of these is the most likely reason Mrs. Williams paid the bank more than the amount she borrowed?
3
60 sec
3.9.D: Personal Financial Literacy
Q.
A city pays each police officer for the work the police officer does. Which factor would most likely not affect the amount of money this city pays a police officer?
