Creating a Personal Budget

Why would the cost of a field trip be a variable expense in your personal budget?

• The cost of field trips is not the same every time.

• It is an expense you would pay for one month, but probably not have to pay for the next.

• You will have probably have to pay for field trips every month, so it is a fixed expense.

• Field trips are not expenditures.

An example of a _______ economy is when a business owner decides to sell t-shirts in her store for 15.00 each.

• profit

• price

• free market economy

• scarcity

Select all that are ways to describe money

• divisible

• a way to exchange and store value

• only made in groups of ten

• easily recognizable

Which of these choices describes a person that employers want to hire?

• a: someone who is happy with only the skills they already have

• b: someone who wants to work hard and get better at their job

• c: someone who needs to be trained to do all parts of their job

• d: someone who wants to be paid more to get better at their job

Taxes pay for which of the following economic sectors?

• banking

• business

• household

• government

Select all that are the best ways to pay for college.

• scholarships

• savings in college funds

• using credit cards

• making good choices about income and expenses

In a free-market economy, which three things happen?

• Owners advertise how much their products or services will cost.

• Owners make decisions about the services or products they will provide.

• Government leaders make sure companies operate fairly.

• Government tells businesses how many products they can sell.

  Edit

A car repair shop belongs to which sector of the economy?

• household

• government

• business

• banking