PFL & Eco Unit #3 Exam Review

Front

SMART Goal are what? Options: Specific, Measurable, Attainable, Relevant, Timely; Specific, Measurable, Allowable, Relevant, Timely; Specific, Measurable, Attainable, Relevant, Timely; Specific, Measurable, Attainable, Relevant, Totally Awesome

Back

Specific, Measurable, Attainable, Relevant, Timely

Front

What are the two types of goals?

Back

Personal and Financial

Front

Things necessary for survival

Back

Needs

Front

Things we could live without: Needs, Wants

Back

Wants

Front

These include monetary and opportunity costs

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Marginal costs

Front

These include achieving a financial goal and the satisfaction received from consumption

Back

Marginal benefits

Front

Which of these are NOT Types of Purchasing: Direct Materials Purchasing, Indirect Materials Purchasing, Services Purchasing, Throwin' that cash around

Back

Throwin' that cash around

Front

Which of these are NOT Charitable Donations?
- Donating money to the Red Cross
- Dropping off old clothes to Goodwill
- Giving money to Becky because she kinda needs it
- Having your old car be taken by the Cars 4 Kids people

Back

Giving money to Becky because she kinda needs it

Front

What is an action plan to help you meet your financial goals called?

Back

Budget

Front

An important part of the overall economy. It helps to channel funds from people who save money to people, firms and governments that borrow money.

Back

Financial System