Personal Finance

What is a consumer?

• Someone who buys goods and services

• Someone who uses goods and services

• Someone who sells goods and services

• All of the above

The four rights of consumers

• Safety, informed, heard, choose

• Safety, education, learn, choose

• Safety, consumer, heard, choose

• Listen, hear, choose, inform

A set amount of money earned by an employee in a set amount of time

• Benefit

• Bonus

• Tip

• Salary

A fixed percentage or amount of profit given to an employee in exchange for making a sale

• Tip

• Commission

• Benefit

• Wage

The lowest hourly rate an employer may legally pay most workers

• Tip

• Benefits

• Minimum wage

• Salary

Examples include vacation, sick leave, and paid holidays

• Tip

• Commission

• Benefits

• Bonus

Pay received from an employment agency for short term jobs at various companies

• Salary

• Temp employee

• Contract employee

• Benefits

Direct deposit means

• income taxes are automatically withheld from pay

• pay is electronically transferred into a bank account

• the employee takes the paycheck to the bank and deposits it

• the employer takes the paycheck to the bank and deposits it

net pay is the same as

• earned pay

• hourly pay

• overtime pay

• take-home pay

A pay stub shows all of the following EXCEPT:

• income taxes and Social Security contributions

• tips received from customers

• total earnings, total deductions, and net pay

• total hours worked and the amount of money earned for the pay period