16 Questions
Which term refers to the value of assets owned?
Wealth
What type of employment typically includes 30 to 40 hours each week and usually includes a set salary and benefits?
Full-time employment
What is the term for a type of contract between an employer and an employee where the worker is not guaranteed a minimum number of hours?
Zero-hour employment
What is the term for a fixed amount of money paid to an employee for each pay period?
Salary
Which term refers to an amount of money paid to an employee at a specific rate per hour worked?
Wage
What are the characteristics of physical money that ensure its security?
Watermarks, holograms, and unique serial numbers
What is the term for the legally mandated minimum hourly wage set by the government to ensure fair compensation for workers?
National minimum wage
Which type of bank accounts typically offer the highest interest rates?
Savings accounts
What is the term for the trade-off between the potential gain and potential loss associated with an investment or financial decision?
Risk vs reward
Which form of borrowing involves relying solely on the borrower's creditworthiness without collateral or asset backing?
Unsecured lending
What are the additional pay provided to employees for working beyond the standard working hours called?
Overtime payments
What is the term for taking a chance with the possibility of winning or losing money, often involving uncertain outcomes?
Gambling
Which financial intermediary facilitates financial transactions between individuals, businesses, and governments?
Banks
What is the cost of borrowing or the reward for saving money expressed as a percentage called?
Interest rates
Which investment option represents ownership units in a company, representing a claim on the company's assets and earnings?
Shares
What is lending where the borrower has given the lender rights over something that has value to support the loan and reduce the lender's risk called?
Secured lending
Explore the functions of money, including its role as a medium of exchange, unit of account, and store of value. Learn about the features and security measures of banknotes and coins, such as watermarks, holograms, and unique serial numbers. Gain insights into income sources and types of employment.
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