Unseen passage for Class 9 - Passage 09
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Unseen passage - Financial literacy stands as a pivotal skill for individuals of all ages, and instilling these skills in children at an early age is a strategic move. Teaching kids about money not only imparts the value of currency but also equips them with indispensable financial acumen crucial for their lifelong journey.
One fundamental facet of financial education for kids is elucidating the concept of saving. Nurturing the habit of setting aside a portion of their allowance or monetary gifts fosters not only a foundation for future financial security but also imparts the wisdom of delayed gratification.
Budgeting surfaces as another pivotal skill that kids should grasp from the get-go. Assisting children in crafting a rudimentary budget for their expenditures, such as toys or treats, imparts the value of meticulous planning and making choices grounded in available resources. This skill becomes increasingly consequential as they mature and shoulder more financial responsibilities.
Initiating the concept of earning money through chores or other age-appropriate tasks serves as an effective conduit to acquaint kids with the realms of work, responsibility, and financial recompense. This hands-on experience aids in their comprehension of the nexus between effort, productivity, and financial remuneration.
Teaching kids about needs versus wants represents another critical dimension of financial education. Guiding them in discerning between essential items and those that fall into the category of nice-to-haves but are not imperative cultivates a mindful approach to spending. This understanding lays the groundwork for making informed financial decisions in the future.
In conclusion, bequeathing indispensable financial skills to kids is an investment in their future fiscal well-being. By imparting concepts like saving, budgeting, earning, and distinguishing between needs and wants, we arm children with the tools they need to navigate the intricacies of personal finance in the years to come.
Q1) Why is financial literacy considered a pivotal skill for individuals of all ages?
A. It helps in making informed choices
B. It imparts the value of currency
C. Both A and B
D. None of the above
Answer: C. Both A and B
Q2) What fundamental facet of financial education for kids is discussed in the passage?
A. Stock Market
B. Setting financial goals
C. Elucidating the concept of saving
D. Real estate investments
Answer: C. Elucidating the concept of saving
Q3) Why is budgeting considered a pivotal skill for kids?
A. It fosters a foundation for future financial security
B. It helps in meticulous planning
C. Both A and B
D. None of the above
Answer: C. Both A and B
Q4) What is the benefit of initiating the concept of earning money for kids?
A. It teaches them about financial recompense
B. It aids in comprehension of the nexus between effort and productivity
C. Both A and B
D. None of the above
Answer: C. Both A and B
Q5) Why is teaching kids about needs versus wants considered critical?
A. It cultivates a mindful approach to spending
B. It helps in making informed financial decisions
C. Both A and B
D. None of the above
Answer: C. Both A and B
Q6) How does teaching kids about earning money connect with the realms of work?
A. It encourages laziness
B. It has no connection with work
C. It acquaints kids with the realms of work and responsibility
D. It discourages financial recompense
Answer: C. It acquaints kids with the realms of work and responsibility
Q7) What is the ultimate goal of bequeathing financial skills to kids, according to the passage?
A. Making them financial experts
B. Providing tools to navigate personal finance in the future
C. Making them wealthy individuals
D. None of the above
Answer: B. Providing tools to navigate personal finance in the future
Q8) What does the passage suggest about the surface of American society?
A. It is covered with a layer of democracy
B. It is covered with financial complexities
C. It is covered with aristocratic colors
D. Both A and C
Answer: D. Both A and C
Q9) According to the passage, what does teaching kids about budgeting help in?
A. Making them extravagant
B. Making choices grounded in available resources
C. Avoiding financial planning
D. None of the above
Answer: B. Making choices grounded in available resources
Q10) What is the benefit of distinguishing between needs and wants, according to the passage?
A. It encourages mindless spending
B. It cultivates a mindful approach to spending
C. It has no impact on financial decisions
D. Both A and C
Answer: B. It cultivates a mindful approach to spending