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Subject: Social Studies Grade: 9 _____

Teacher: Davis, Austin Pryce, Morgan, Hinds.

Students Name: _______________________________

CONSUMER AFFAIRSInstructions: Fill in the blank with the word that best corresponds with each

statement.

1. The ability to do things and make decisions by yourself, without needing other countries or other people to help you. _________________________

2. Plastic cards issued by a financial institution which of allows individuals to obtain goods or services without paying cash at the point of purchase. ____________________________________

3. This is when organizations allow you to pay for goods or services several weeks or months after you have received them. ______________________

4. A financial plan that shows how much money we earn and how much we spend. _________________________

5. The economical management of ones resources to satisfy needs and wants. This involves planning how to use one’s resources in order to maximize benefits and get rid of waste. _______________________________

6. A sum of money deposited for a specific period of time at a fixed rate of interest. ___________________________

*Thrift * Net income *Cooperative

* Stocks * Bank * Self-reliance

* Credit union * Fixed deposit * Shares

* Credit * Savings * Credit cards

* Bond * Investment * Expenditure

* Gross income * Budget

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7. A financial co-operative in which individuals agree to save money together and lend money to each other when needed. ________________________

8. The difference between what a person earns and what he/she spends. __________________________

9. Money that is paid into a bank, used to purchase shares, stocks, bonds or property, in order to increase value. ________________________________

10. Shares in the ownership of a company, or investments on which a fixed amount of interest is paid. ________________________________

11. A certificate that is issued to investors who lend money with the intention of earning interest on the amount loaned. This certificate states the amount of money owing, interest rate and the time involved. _________________________________

12. A financial institution where people or businesses can deposit money and receive interest on their deposit. This institution lends money to consumers who pay interest on the amount borrowed. ___________________________________

13. A business or organization run and owned by the people who use it, and who share in the profits. ___________________________________

14. The total sum of money that a person or an organization earns or receives. _______________________

15. The many equal parts into which a company’s ownership is divided. These are usually bought by people as an investment. _______________________

16. This is the spending of money on goods or services. ________________________

17. The amount of money remaining from your salary, when statutory deductions have been taken. ________________________________

SHIFT 1- 9/1 STUDENTS – Completed work or a picture of it can be emailed to stasuspd@yahoo.com

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Subject: Social Studies Grade: 9 _____

Teacher: Davis, Austin Pryce, Morgan, Hinds.

Students Name: _______________________________

CONSUMER AFFAIRS Instructions: Complete the following short answer questions. Write your

answers in the space that is provided.

1. What is meant by the term thrift? _____________________________________________________________

_____________________________________________________________

_____________________________________________________________

2. State four actions that consumers may take to show that they are practicing thrift. _____________________________________________________________

_____________________________________________________________

_____________________________________________________________

_____________________________________________________________

3. Explain two ways in which consumers may benefit from practicing thrift. _____________________________________________________________

_____________________________________________________________

_____________________________________________________________

_____________________________________________________________

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4. Distinguish between thrift, savings and budget. Thrift - _______________________________________________________ ________________________________________________________

________________________________________________________

Savings - ______________________________________________________

______________________________________________________

_______________________________________________________

Budget - ______________________________________________________

______________________________________________________

______________________________________________________

5. a) Write at least four formal institutions that encourage consumers to save. I. __________________________________________________

II. __________________________________________________

III. __________________________________________________

IV. __________________________________________________

b) Write two informal ways that members of a community can encourage each other to save. Briefly describe each method that you have mentioned.

_____________________________________________________________

_____________________________________________________________

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_____________________________________________________________

_____________________________________________________________

I. __________________________________________

II. __________________________________________

6. What is a disadvantage of using any of the informal methods of savings that you have outlined in # 5 above? _____________________________________________________________

_____________________________________________________________

_____________________________________________________________ 7. State two advantages of using the formal methods to save.

_____________________________________________________________

_____________________________________________________________

_____________________________________________________________

_____________________________________________________________

8. State three benefits of saving regularly. _____________________________________________________________

_____________________________________________________________

_____________________________________________________________

_____________________________________________________________

_____________________________________________________________

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9. State two financial institutions from which consumers may borrow money. _____________________________________________________________

_____________________________________________________________

_____________________________________________________________ 10. State three purposes for which consumers may borrow money?

I. ________________________________________________________

II. ________________________________________________________

III. ________________________________________________________

ACTIVITY 2

Observe the illustration above and answer the following questions in the spaces provided.

1. The shoppers in the illustration may be described as consumers of _________________. (goods, service, credit)

2. What type of outlet do you think this illustration is describing? ____________________. (retail, manufacturing)

3. In order to spend wisely what is one thing that these consumers should have done before entering the establishment? _______________________

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ACTIVITY 4

SHIFT 1- 9/1 STUDENTS – Completed work or a picture of it can be emailed to stasuspd@yahoo.com