Quest for Success Unit 6 Vocabulary - Part 1

An estimate of income and expenditure for a set period of time is a ______________.

• gross income

• budget

• sales tax

• cash flow

What is the total amount of money being transferred into and out of a business or household?

• inflation

• cost comparison

• variable expense

• cash flow

Who is the person who purchases goods and services for personal use?

• dependent

• consumer

What is the process by which business decisions are analyzed, the benefits of a given action are summed, and the costs associated with that action are subtracted?

• opportunity cost

• cost comparison

• purchasing power

• cost-benefit analysis

The process of comparing the price of different products and services is called _________________.

• cost comparison

• purchasing power

• variable expense

• cash flow

_________________ means being financially sound enough to justify the extension of credit such as repayment history and credit score.

• depreciation

• creditworthy

• income

• budget

A person who relies on another usually for financial support is a ________________.

• consumer

• financial advisor

• dependent

What is the reduction in the value of an asset with the passage of time?

• inflation

• expense

• depreciation

• opportunity cost

What is the cost required for something?

• sales tax

• need

• budget

• expense

Who is the person who provides financial services or guidance to clients?

• consumer

• financial advisor

• dependent