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Financial Literacy Summative Assessment ER

I Can explain the purpose of a budget and define the 3 basic components (parts).

Type your answer to the Extended Response Question.
Copy & paste into Mrs. Grant's Blog Post.

5th Grade FLSAER
Financial Literacy Summative Assessment 
100 Points
Extended Response:

1. A. List the 3 components (parts) of a budget.
    B. Explain the purpose of having a budget (how much money you have, how   
         much your bills are, and how much you can save).


  Scoring Guide

 4    Listed the 3 components of a budget and explained the purpose of having a budget using
       connections made during "Mini Reality Town".

  3  Listed 2 components of a budget and explained the purpose of having a budget with some
       connections made during "Mini Reality Town".

  2  Listed 2 or fewer components of a budget and attempted to explain the purpose of having
       a budget with few connections made during "Mini Reality Town".
 
  1  Listed 1 component of a budget and/or attempted to explain the purpose
      of having a budget with no connections made during "Mini Reality Town".

  0  NOT AN OPTION!


When/If you finish, you may proceed to the following website:

http://www.practicalmoneyskills.com/games/moneymetropolis/