10 Questions
What is the primary function of money?
To facilitate exchange
What is the term for the value of money in terms of the goods and services it can buy?
Purchasing power
What is the process of moving money from one place to another?
Transfer
What is the term for the increase in the general price level of goods and services in an economy over time?
Inflation
What is the purpose of a budget?
To track income and expenses
What is the purpose of saving money?
To have money for the future
Why do people use money?
To buy things we need and want
What happens when prices rise?
The value of money decreases
Why do we need to make choices about how to use our money?
Because we have limited money and many wants
What is the benefit of having a piggy bank?
It helps us save money
Assess your understanding of money concepts with this quiz, covering knowledge, comprehension, and application questions on the topic. Test your skills and learn more about personal finance, economics, and more!
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