P4 Sufficiency of economy

What does sufficiency mean?

• Having enough of something

• Being resourceful

• Having integrity

Sufficiency is based on how many basic principles?

• 1

• 2

• 3

The three main principles are Reasonableness, Self immunity and....

• Knowledge condition

• Moderation

• Virtue condition

The moderation principle is based on...

• Not being excessive

• Making decisions with prudence

• Being prepared to face economic hazards

The principle of reasonableness is based on...

• Not being excessive

• Making decisions with prudence

• Being prepared to face economic hazards

The principle of self immunity is based on...

• Not being excessive

• Making decisions with prudence

• Being prepared to face economic hazards

Condition needs the combination of..

• Knowledge and virtue

• Sufficiency and knowledge

• Sufficiency and virtue

Which is an example of the knowledge condition?

• Resourcefulness

• Integrity

• Honesty

Which is an example of the virtue condition?

• Resourcefulness

• Carefulness

• Honesty

Which is an example of moderation being put in to practise?

• Spending your money on things you can afford

• Saving money in case of emergencies

• Not gambling your money