PFL Unit 1

PFL Unit 1

12th Grade

29 Qs

quiz-placeholder

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PFL Unit 1

PFL Unit 1

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Daniel Jackson

Used 31+ times

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29 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which of the following would be a variable expense?

Rent

Car payment

Gym membership

Gas for your car

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is income?

The next best option when making a choice

When unlimited wants exceed limited resources

The taxes that are paid to the federal government

Money earned in exchange for a good or service

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In theory, tips are incentive based. What does this mean?

Tips are decided by your boss

You can make more tips if you provide better service

The less you work, the more you can earn

You will get the same amount in tips, regardless of the service

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How frequently do hourly wage jobs generally pay?

Once a year

Once per hour

Every week or every 2 weeks

Every month

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are dividends?

Income that is paid per hour of work

Income that is gained when you sell something for more than you paid for it

Income earned when companies share profits with stockholders

Income earned by completing a job

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a fixed expense?

An expense that changes frequently

An expense that remains the same over an extended period

An expense that covers an expected event

An expense that coves an unexpected event

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is disposable income?

The total income one acquires

The amount of income one can spend BEFORE taxes are collected

The amount of income one can spend AFTER taxes are collected

The amount of income one earns on a given day

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