TLE/EPP6 SUMMATIVE TEST 1

Directions: Study and analyze each sentence.

It is a financial gain earned from operating a business.

• profit

• salary

• bonus

It is fixed regular payment typically paid on daily, monthly or biweekly basis.

• commission

• salary

• pension

It is a payment made during a person’s retirement as a government/ private employee during his/her working days.

• pension

• salary

• profit

It is the amount of money given as addition to a regular income or as reward for good performance.

• bonus

• profit

• wage

It is an incentive pay to certain individual from insurance, selling real estate, appliances and educational plans.

• commission

• wage

• profit

Choose the letter of the best answer.

can be defined as anything we use to achieve what we want (our goals) and needs (to survive).

• Resources

• Material Resources

• Food

• Shelter

are materials found in nature that can be used for practical human purposes that are considered to have value.

• Resource

• Material Resources

• Food

• Shelter

are intangible resources such as health, experiences, and time. Without nonmaterial resources, family members will be unable to perform their duties and responsibilities at home, in school, and at work.

• Material Resources

• Nonmaterial Resources

• Food

• Shelter

The most important need of everybody

• Material Resources

• Food

• Nonmaterial Resources

• Food

We need house to live in and protect ourselves from heat of the sun, storm, wind, etc.

• Shelter

• Clothing

• family

• Social Needs