Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
remaining cards
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Personal Finance #01

GA 5th Grade Common Core Social Studies Standards

What is a budget? A plan showing how income is to be spent
What is credit? A promise of payment at a future time in return for goods/services now
What does it mean to invest? Use money to gain a profit
What are taxes? Required payment of money made to governments by people and businesses on goods and services
What is the Federal Reserve Bank? The central banking organization in the U.S.
What is supply? The amount that producers are able and willing to produce and sell at all possible prices at a given time
What is demand? The amount that consumers are able and willing to buy at all possible prices at a given time
What is competition? Methods used by businesses to gain more customers and earn higher profits
What is a consumer? Someone who spends their money on a good or service
What are examples of goods? Food, clothes, cars, jewelry, houses, etc.
What are examples of services? Barber shops, grass cutting services, manicure salons, tutoring, firemen, policemen, etc.
What are the roles of a Consumer? to spend money, to use goods and services
What are the roles of a Producer? to provide or make goods and services
What is a checking account used for? To keep money in a safe place until you are ready to spend it
What is a savings account? A bank account that earns interest. Usually the money is kept in the account for a long period of time. Interest what a bank pays you to hold your money
What is income? Any money received on a regular basis from work or investments
What is an investment? The purchase of goods that are not consumed today but are used in the future to create wealth