Sources of Family Income and Resources

What are the family's resources?

• Only goods

• Human and nonhuman resources

• Only money

• Only properties

What are the differences between needs and wants?

• Needs are always non-material, wants are always material

• Needs are always material, wants are always non-material

• Needs are optional, wants are essential

• Needs are essential, wants are optional

What is the order of human needs according to Maslow’s Hierarchy of Needs?

• Physical needs, safety, love/belonging, esteem, self-actualization

• Fulfillment, contentment, physical needs

• Contentment, physical needs, fulfillment

• Physical needs, fulfillment, contentment

What are the sources of the family’s income?

• Salary, profit from business, commissions, savings

• Salary, profit from business, commissions, pension

• Profit from business, commissions, lease or rental of property, dividends from stocks

• Profit from business, lease or rental of property, pension, dividends from stocks

How do you allocate budget for basic and social needs?

• Set Goals, Be Consistent, Mix needs and wants

• Set Goals, Be Inconsistent, Distinguish between needs and wants

• Set Goals, Be Inconsistent, Mix needs and wants

• Set Goals, Be Consistent, Distinguish between needs and wants

What are the common nonhuman resources of a family?

• Lot, other inherited resources, all facilities acquired through the years

• Family members, abilities, intelligence, health

• Properties, assets, goods, money

• Goods, money, lot, other owned resources

What is the most important resource according to the text?

• Money

• Food

• Vehicle

• Time

What is the purpose of Maslow's Hierarchy of Needs?

• To rank different types of resources

• To order various needs of humans

• To determine family budget allocation

• To classify family income sources

What is the main source of income for those engaged in sales?

• Salary

• Profit from business

• Commissions

• Lease or rental of property

What is a common source of income for veterans and senior citizens?

• Profit from business

• Commissions

• Pension

• Salary