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Mad Money Terms
Test Description: Vocabulary game about financial literacy.
Instructions: Answer all questions to get your test result.
1) Things that make life more interesting and fun, but are not necessary.
A
need
B
cost
C
want
D
choice
2) An alternative to something else.
A
choice
B
need
C
want
D
cost
3) The price paid for a product or service.
A
cost
B
want
C
choice
D
need
4) A situation favorable for attainment of a goal.
A
want
B
opportunity
C
investing
D
need
5) The total amount of money earned.
A
gross income
B
deduction
C
net income
D
take home pay
6) Money set aside to be used in the future.
A
take home pay
B
investing
C
wage
D
savings
7) The amount of money you take home after taxes and deductions.
A
gross income
B
take home pay
C
net income
D
deduction
8) The amount of money left after taxes and deductions are subtracted.
A
deduction
B
net income
C
take home pay
D
gross income
9) Something given or received in return for investing or saving.
A
reward
B
deduction
C
cost
D
product
10) To convince someone to do something by advising or urging.
A
advertising
B
investing
C
reward
D
persuade
11) Putting money into a venture that may turn a profit or make interest.
A
advertising
B
investing
C
product
D
persuade
12) The probability that loss will occur.
A
wage
B
want
C
risk
D
need
13) Money that is paid or received for work.
A
cost
B
risk
C
deduction
D
wage
14) Something that is produced by labor.
A
wage
B
choice
C
cost
D
product
15) Things we must have in order to survive.
A
want
B
cost
C
choice
D
need
16) Money that is subtracted from wages.
A
deduction
B
cost
C
gross income
D
net income
17) To give information about a product or service in order to sell it.
A
cost
B
choice
C
investing
D
advertising
*select an answer for all questions
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