Read the given passage carefully and answer the questions that follow.
Financial literacy is the ability to understand and effectively use financial skills. These financial skills are as simple as budgeting, investing, credit management, and financial management. In other words, financial literacy is the ability to manage money. A strong foundation of these financial skills will help in achieving various life goals like retirement, education, and even going on a vacation.
Financial literacy includes many skills. However, the most popular ones are budgeting, managing expenses, paying off debt, and understanding the risk-return trade-off in investment products. Acquiring these skills would require one to understand the basic financial concepts like time value of money, compound interest, annualised return, and opportunity cost.
With an abundance of credit products available in the market, like credit card debt, overdraft facility on debit cards, and EMI, financial literacy becomes important. Understanding debt and having basic financial knowledge will help individuals to use these products responsibly.
Financial literacy often teaches individuals how to make major financial decisions. Moreover, it increases financial discipline and financial capability. This will lead to major lifestyle changes like saving and investing regularly, managing debts effectively and fulfilling life goals efficiently. Additionally, financial literacy will ensure one's financial wellbeing and also protect individuals from financial frauds.
Lacking the knowledge of these skills leads to financial illiteracy. Financial illiteracy leads to budget mismatch, higher expenses than income, accumulation of debts, poor credit score, being victims to financial frauds, and other negative consequences.
Financial literacy is important because it equips one with the knowledge and skill to manage money effectively. Without financial literacy, the actions and decisions one makes or do not make with respect to savings and investments would lack a strong foundation. Financial literacy helps in understanding financial concepts better and enables one to manage their finances efficiently. Furthermore, it helps in effective money management, making financial decisions, and achieving financial stability. Moreover, financial literacy provides in-depth knowledge of financial education and various strategies that are indispensable for financial growth and success. Also, it enables one to be debt free by adopting the best debt strategies.
Select the most appropriate ANTONYM of the given word with reference to its usage in the passage.
Stability
The word "stability," as used in the passage, refers to a state of financial security and consistent financial well-being. The antonym should therefore represent the opposite of this secure and consistent state.
- Steadiness is a synonym, meaning consistency and stability.
- Ambiguity means uncertainty or vagueness, which is not the direct opposite of stability.
- Volatility signifies instability and rapid changes, making it the most appropriate antonym.
- Inefficacy means ineffectiveness, which isn't directly related to the financial stability discussed in the passage.
Therefore, the best antonym for "stability" in the context of the passage is volatility, representing the opposite of a secure and consistent financial state.
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Inclusion
Given below are four jumbled sentences. Select the option that gives their correct logical sequence.
A. The King Cobra is the world’s largest venomous snake.
B. Even, the baby King Cobra is one-and-a-half foot long when born.
C. It is mostly found in parts of Africa.
D. The Cobra is the only snake that builds a nest.
Select the option that expresses the given sentence in active voice.
I am upset because my cell phone has been stolen.
Select the most appropriate option that can substitute the underlined segment in the given sentence.
What do you like to do on your free days other than to watching movies?
Identify the errors in the given sentence and choose the sentence that rectifies these errors.
I want my son to be pharmacist and my husband wants him to be a engineer. He wishes to be architect.
Select the most appropriate meaning of the given idiom.
All eyes and ears
Select the most appropriate meaning of the underlined idiom.
The winner’s performance was head and shoulders above all other participants' in the dance competition.
Important Questions from Synonyms or Antonyms
A sentence with an underlined word is given below. Select the most appropriate antonym for the underlined word.
Whether the rewards arein commensurate withthe efforts or not, a society will always have workaholics and the shirk workgroups.
The following question consists of a sentence with an underlined word followed by four words. Select the word that is opposite in meaning to the underlined word and mark your response accordingly.
Wars leave behind a large number ofemaciatedsoldiers in the camps of both the victorious and the vanquished.
A sentence with an underlined word is given below. Select the most appropriate antonym for the underlined word.
There was amammothgathering to listen to the leader.
The following question consists of a sentence with an underlined word followed by four words. Select the word that is opposite in meaning to the underlined word and mark your response accordingly.
The audience thoroughly enjoyed thehilariousdrama.
A sentence with an underlined word is given below. Select the most appropriate antonym for the underlined word.
The writer’seruditionin science is revealed in every page of the book.
