EPF 1st Semester Exam

You should be able to measure progress toward achieving a goal.

• True

• False

Failing to act is not considered a bad decision made by a person since the person did not complete the 3 stages of the management process.

• True

• False

Money, time, and equipment are examples of human resources.

• True

• False

People expect individuals, businesses, and governments to behave ethically at all times, even if a person might have an unfortunate or bad experience.

• True

• False

Values vary among people and always change over time.

• True

• False

Needs and wants do not change over time.

• True

• False

Financial goals change over time.

• True

• False

If your net worth is negative, try to increase your liabilities.

• True

• False

Your needs and wants change as you grow physically, mentally, and emotionally.

• True

• False

An opportunity cost remains the same regardless of who makes the decision.

• True

• False