Unit 1 Career & Financial Goals

A _____ is employment in area you usually like, are committed too, and allows you to earn money.

• career

• job

A ____ is employment you may or may not like but need to earn money.

• career

• job

Although your earning potential is 100% determined by you, you should have a backup plan or Plan B to your first choice.

• True

• False

A (n) _____ are things you might give up when you make a decision.

• trade off

• disadvantage

• advantage

• opportunity cost

______ is the next best alternative or what your second choice would have been.

• Opportunity cost

• Trade off

Your skills do not affect your salary. You just have to have some sort of skills.

• True

• False

ROI is not important to you and your family.

• True

• False

The amount of money you earn is based on

• skills and education you have

• supply of workers with same skills and education you have

• demand for workers with same skills and education you have

• All of these will determine the amount of money you make

______ is income that we get when someone pays us working.

• Earned income

• Unearned income

When one parent stays home this is a benefit for their children. However, lost income , less saving, and not being able to retire early are examples of

• trade offs

• opportunity costs