Download Personal Finance Jeopardy $100

Personal Finance Jeopardy
Basic
Vocab
Vocab
Application
Budget
Entrepreneur
Other
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Basic Vocab- $100
• A spending or savings plan for
an individual or company
• What is a budget?
Basic Vocabulary - $200
The
ability to borrow money
What
is credit?
Basic Vocabulary - $300
 ______________ are
for people’s money.
 What
is a bank?
storage houses
Basic Vocabulary- $400
 Simon’s
bank pays him 0.2% each
month on all of the money that he
deposits plus interest. What type of
interest is Simon earning?
 What
is compound interest?
Basic Vocabulary - $500
The
cost of producing one
single item.
What
is unit cost?
Vocabulary Application - $100
Lisa
borrowed money from the
bank to pay for her brand new
BMW.
What
is a loan?
Vocabulary Application - $200
Sarah
wants to buy a new pair
of shoes, so every week she sets
aside a third of her income.
What
is saving?
Vocabulary Application - $300
 Matt
borrowed $400 from the bank to buy a
new television. When the bill came, Matt
did not have $400 in his bank account, so
Matt only paid the minimum payment.
When the second bill came Matt had his
remaining balance plus a 7% fee. What is
the 7% that Matt had to pay?
 What
is interest?
Vocabulary Application - $400
 Mary
places $300 a month into her
certificate of deposit. What type of
investment is Mary participating
in?
 Financial
Investment
Vocabulary Application - $500
 Keaton’s
bank pays him 5%
monthly interest on all deposits.. If
Keaton deposits $200 one month,
what type of interest is Keaton
earning?
 What is simple interest?
Budget- $100
 What
must one do in order to figure
out the amount that is left over
after each month?
 One
must subtract the expenses
from the income.
Budget- $200
 Andrew
works at a comic book store
making $7.25 an hour. He works 8
hours a day and 5 days a week.
What is Andrew’s monthly income
if there are 4 weeks in a month?
 Andrew’s
monthly income is $1,160.
Budget- $300
 ______________ are
items that are
paid every month and are
consistent.
 What
is fixed-regular expenses?
Budget- $400
 Staci
spends $50 a week on food,
entertainment, and personal items. She spends
$800 a month on rent and $20 a week on gas
to get too and from work. How much are
Staci’s monthly expenses if there are 4 weeks
in a month?
 Food, Entertainment, and Personal Items $50 x 4 = $200 each ($600); Rent $800 a
month; Transportation is $20 x 4 = $80.
 $600 +
$800 + $80 = $1,480
Budget- $500

Kyle works as a police
officer. He makes $17.50
an hour. Kyle works 8
hours a day, 5 days a
week (there are 4 weeks
in a month). Kyle’s rent
is $1,250 a month and it
costs him $8 a day to
ride the train to and
from work. Kyle spends
$90 a week on food. He
likes to rock climb so
Kyle spends $75 a week
•
•
•
•
•
•
Income - $17.50 x 8 hours
x 5 days a week x 4 weeks
= $2,800
Rent – $1,250
Transportation - $8 x 5
days a week x 4 weeks =
$160
Food - $90 x 4 weeks =
$360
Entertainment - $75 x 4
weeks = $300
1,250 + $160 + $360 +
300 = $2,070
Entrepreneur - $100
What
should an entrepreneur
do if the demand for the new
product began to rise quickly?
The
entrepreneur should raise
his/her prices in order to get the
most profit.
Entrepreneur - $200
Martha
spent $14.42 to make
tie-dye bracelets. Martha was
able to make 23 bracelets. What
is Martha’s unit cost? (Please
round your answer to the nearest hundreth)
Martha’s unit
cents.
cost is about 63
Entrepreneur - $300
 Holly
started selling dog paintings.
On her first day of selling, Holly
brought in $17 in change. At the
end of the day, she had $65 total in
her cash register. What was Holly’s
profit for her first day of selling?
 Holly
made a $48 profit.
Entrepreneur - $400
 Sarah
started selling beaded
necklaces. Sarah spent $23.45 to
make 45 necklaces. On her first day
of selling Sarah made a $56 profit.
What was Sarah’s net profit after
her first day of selling?
 Sarah’s net profit was $32.55.
Entrepreneur - $500
 Amy started a business selling coasters. It costs her $0.86
to buy all the supplies to make one coaster. Amy decides
to sell each coaster for $1.25 each. At the end of her first
day of working, Emily has a $23.75 profit. What is Amy’s
net profit after her first day of selling?
 Amy made $7.41 selling coasters.
Other - $100
 _______________ was
one of the
earliest transactions on earth. This
is when a person trades an item or
service for another item or service.
 What
is barter?
Other - $200
 ________________ is
the amount
of good or service there is and
_______________ is determined by
how many people want the good or
service.
 What
is supply; What is demand?
Other - $300
 What
 Too
causes inflation?
much money in circulation
Other - $400
When
supply is high and
demand is low, what would this
mean for the price of the
product?
The price would most likely go
down.
Other - $500
What
does this mean for the
price when demand is high and
the supply is also high?
The
price will be at its highest.