Passage 14: The Importance of Financial Literacy
Financial literacy is crucial for managing personal finances and making informed decisions about money. It involves understanding concepts such as budgeting, saving, investing, and debt management. Financial literacy helps individuals plan for the future, avoid excessive debt, and achieve financial goals. It is essential for making sound financial decisions and ensuring long-term financial stability.
MCQs:
1.What is a key component of financial literacy?
- a) Ignoring budgeting
- b) Understanding debt management
- c) Avoiding saving
- d) Investing irresponsibly
2. How does financial literacy help individuals?
- a) By avoiding financial goals
- b) By increasing debt
- c) By planning for the future
- d) By neglecting savings
3. What can be achieved through financial literacy?
- a) Excessive debt
- b) Financial instability
- c) Financial goals and stability
- d) Irresponsible spending
4. Why is financial literacy important?
- a) It leads to poor financial decisions
- b) It ensures long-term financial stability
- c) It encourages irresponsible investment
- d) It avoids budgeting
5. What is one concept involved in financial literacy?
- a) Ignoring investing
- b) Understanding saving
- c) Avoiding debt management
- d) Increasing financial risk
Reading comprehension
Synonyms for ADRE
Antonyms for ADRE
Important Topics:
- Assam Gk: (Assam History, Geography, Political, Economic, Education, National Park and Sanctuaries, River, Sport, etc...)
- Indian History GK
- English GK
Quiz:
Sorry for the typing. I hope you will correct me in the comment box.