Unit 2 Test Review - PFM

Unit 2 Test Review - PFM

12th Grade

44 Qs

quiz-placeholder

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Unit 2 Test Review - PFM

Unit 2 Test Review - PFM

Assessment

Quiz

Business

12th Grade

Practice Problem

Easy

Created by

Blake Balogh

Used 34+ times

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44 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT considered a basic need?

Food

Clothing

Internet

Shelter

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When Income equals Expenses plus Savings, it is called...

Net Income

Net Worth

Balancing the Budget

Pay Yourself First

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are considered basic needs?

Food, Clothing, Shelter, Medical Care

Food, Electronics, Shelter, Medical Care

Food, Clothing, Transportation, Medical Care

Food, Clothing, Shelter, Entertainment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do "wants" refer to in the context of financial decisions and planning?

Essential items required for survival

Things people desire for goods and services beyond survival & basic comfort

Basic needs such as food, water, and shelter

Items that are not desired by people

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a "want"?

New Cars

Bread

Water

Electricity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trips and luxury items are examples of:

Needs

Wants

Survival essentials

Basic comforts

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are financial resources?

Skills and knowledge that people use to produce goods and services.

Money or other items of value that people can use to acquire goods and services.

The physical tools and equipment used to produce goods and services.

The natural materials that are used to create goods and services.

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