Chapter 1 Financial Planning

What is the study of the decisions that go into making, distributing, and using goods and services?

• value planning

• economics

• personal financial planning

Getting a college education, buying a car, and starting a business are examples of...

• opportunity costs

• plans

• goals

What is the first step of developing a personal finance plan?

• putting away money

• determining your current financial situation

• finding sources of financial information

Which one of the following factors does NOT influence your day-to-day decisions about finance?

• your life situation

• your personal values

• your location

A person who purchases and uses goods or services is known as...

• a consumer

• a creditor

• a purchaser