Financial Literacy FINAL

A factor or disadvantage that discourages people from doing something is called?

• Incentive

• Disincentive

• Opportunity

• Disadvantage

The value of the second best alternative that a person gives up when making one choice instead of another is called?

• Cost

• Value

• Opportunity cost

• Opportunity loss

An ________ is any reward or benefit that motivates people to do something.

• Disincentive

• Opportunity

• Advantage

• Incentive

Payments earned by households for selling or renting their productive resources are called?

• Salary

• Career

• Money

• Income

The health, education, training, skills, and values of people are known as?

• Human capital

• Knowledge capital

• Person capital

• None of the above

Money provided to the student and/or parents to help pay for the students education is called?

• Student loans

• Financial aid

• FAFSA

• None of the above

Wages before deductions are called?

• Net income

• Gross income

• Before tax money

• After tax money

Income after all deductions and exemptions are taken out is called?

• Net income

• Gross income

• Before tax money

• After tax money

__________ is the belief that people should be taxed according to their ability to pay, regardless of the benefits they receive?

• Benefit received

• Progressive tax

• Ability to pay

• None of the above

A __________ is one who enjoys the benefits of a good or service without paying for it?