PFL & Eco Unit #3 Exam Review

SMART Goal are what?

• Smart, Measurable, Attainable, Relevant, Timely

• Specific, Measurable, Allowable, Relevant, Timely

• Specific, Measurable, Attainable, Relevant, Timely

• Specific, Measurable, Attainable, Relevant, Totally Awesome

What are the two types of goals?

• Personal and Financial

• Personal and Business

• Personal and Impersonal

• Personal and Optional

Things necessary for survival

• Needs

• Wants

Things we could live without

• Needs

• Wants

These include monetary and opportunity costs

• Marginal costs

• Marginal benefits

These include achieving a financial goal and the satisfaction received from consumption

• Marginal costs

• Marginal benefits

Which of these are NOT Types of Purchasing

• Direct Materials Purchasing

• Indirect Materials Purchasing

• Services Purchasing

• Throwin' that cash around

Which of these are NOT Charitable Donations?

• Donating money to a the Red Cross

• Dropping off old clothes to Goodwill

• Giving money to Becky because she kinda needs it

• Having your old car be taken by the Cars 4 Kids people

What is an action plan to help you meet your financial goals called?

• Budget

• Check Book

• Throwin' Cash

• Goalz

An important part of the overall economy. It helps to channel funds from people who save money to people, firms and governments that borrow money.

• Diversification

• Financial System

• Financial Market

• Financial Institutions