SUMMATIVE(2)_EPP6 Q3

These resources are tangible inform such as house and lot, cash, furniture and appliances, jewelries and automobiles.

• Food

• Material Resource

• Non-Material Resources

These resources include every person unique ability, intelligence, skills, strength and energy.

• Human Resources

• Non-Material Resource

• Material Resources

These resources intangible in nature such as health, experiences and time.

• Material Resources

• Non-Material Resource

• Human Resources

This is the most basically and most important needs of our body wherein it gives us energy and survive.

• Material Resources

• Food Resources

• Human Resources

Salaries are paid fixed amount per period like 30th day of every month while wages are money received for a pay rate per hour from rendering a service.

• Fees from Rent

• Wages and Salaries

• Pensions

Which of the following is an example of a Human Resources?

• Material Resources

• Cars and Jewelries

• Talents and skills

Which of the following is an example of a Human Resources?

• Experiences

• Cars and Jewelries

• Talents and skills

Family Budgeting is a wise use of family resources. It is a practical skill which everyone should know and apply in life. why is it important?

• It allows the family to expend their resources freely.

• It enables the family to identify the expenses to cover for their needs and wants.

• It allows the family to lend money from their neighbor.

• It will trigger the family to buy all the things they want in life.

The following are the advantages of having a family budget EXCEPT one. What is it?

• It fosters openness, cooperation and unity among family members.

• It aids the family to live within its available income.

• It gives discomfort and miss direction in achieving family goals.

• It helps the family analyze errors in spending and suggest possible ways to correct them.

What principle is used in allocating for family's budget?

• 60-31-10

• 70-20-10

• 65-35-10

• 80-10-10