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12 Cards in this Set
- Front
- Back
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What does discretionary spending mean ? |
When you spend your money on something you don’t necessarily need such as T.V lollies ect. |
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What does necessary spending mean ? |
When you spend your money on something you need |
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Define surplus? |
Extra money so if you bought a book and you had $2.50 left over then that’s your surplus |
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Define deficit ? |
You might not have enough money for something |
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What is tax ? |
Money added to something of some goods, services, and transactions. |
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Who pays tax? |
Everyone |
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Where does the money we pay in tax go ? |
The government |
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Define a budget ? |
An estimate of income and expenditure for a set period of time |
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Give a meaning of financial literacy |
When you like bring maths into literacy |
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What is kiwi saver ? |
A company were you can store your money for when you really need it and get it out when you have retired |
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What is compounding interest and how does it work ? |
It’s an addition of inter to the principle sum of of a loan deposit |
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Do you think specialising is better than having a substance economy why or why not ? |
Yes cause you can get things done faster if your good and fast at catching fish and you have to do other stuff which takes you longer we’re their is other people who can do it like that it’s just wasting time |
