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Questions and Answers
What is the definition of Financial Literacy?
What is the definition of Financial Literacy?
- Possession of financial knowledge and skills to make informed choices (correct)
- Understanding of personal financial goals and strategies
- Understanding of an individual's current financial position
- Ability to purchase goods and services for personal use
What is the main characteristic of a Need?
What is the main characteristic of a Need?
- It is a tangible item that can be touched
- It is a desire but not necessary for survival
- It is an intangible activity
- It is a necessity for survival (correct)
What is the definition of a Financial Plan?
What is the definition of a Financial Plan?
- An overview of an individual’s current financial position (correct)
- Setting financial goals and developing plans to reach them
- Purchasing goods and services for personal use
- Possession of financial knowledge and skills
What is the main characteristic of a Want?
What is the main characteristic of a Want?
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What is the definition of a Consumer?
What is the definition of a Consumer?
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