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Exam (elaborations)

AE-Financial Literacy Exam Questions and Answers
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  • Course
  • Financial Literacy
  • Institution
  • Financial Literacy

Financial Literacy - Answer-The knowledge and skills to manage money wisely Budget - Answer-A plan for making and spending money Income - Answer-Money received on a regular basis for work or through investments Investment - Answer-the action or process of investing money for profit Prof...

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Document information

  • October 12, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ae financial literacy exam questions and answers
  • financial literacy answer the knowledge and skil

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  • Financial Literacy
  • Financial Literacy

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lectknancy

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AE-Financial Literacy Exam Questions
and Answers
Financial Literacy - Answer-The knowledge and skills to manage money wisely

Budget - Answer-A plan for making and spending money

Income - Answer-Money received on a regular basis for work or through investments

Investment - Answer-the action or process of investing money for profit

Profit - Answer-The financial gain made in a transaction

Expense - Answer-Money spent or the cost of a service/item

Manage - Answer-To control or be in charge of something

Finances - Answer-The management of large amounts of money

Interest - Answer-the price paid for the use of borrowed money

Loan - Answer-a thing that is borrowed, especially a sum of money that is expected to
be paid back with interest.

Consumer - Answer-A person who purchases goods and services for personal use

Supply and Demand - Answer-an economic concept that states that the price of a good
rises and falls depending on how many people want it (demand) and depending on how
much of the good is available (supply)

money supply - Answer-all the money available in the economy

Opportunity cost - Answer-whatever must be given up to obtain some item

time value of money - Answer-the increase of an amount of money due to earned
interest

Allowance - Answer-the amount of money you plan to use for a certain budget category

Salary - Answer-A fixed amount of money paid to an employee for each pay period.

Wages - Answer-An amount of money paid to an employee at a specified rate per hour
worked

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