Intro to Trades 2.3.1 Quiz Review

Luke signs up for a yoga class for the first time and finds that he has really great balance that he did not know he had before. How would you describe his talent to balance? 

• aptitude

• opportunity cost

• interest

• personal development

Which of the following is an example of an opportunity cost? 

• making a quick decision on your major in college and not waiting forever to choose

• knowing that when choosing a major, you miss out on experiences from other majors

• asking others their opinion because you have a bias towards your opinion

• understanding that choosing happiness means different things for different people

What are the key founding ideas you should base your decision on for your career path?

Select two that apply.​ (a)   ​ ​ (b)  

• finding what makes you happy
• making sure you have choices in your life
• going with the highest earning potential
• avoiding all student loan debt

Which of the following statements could Julia assume to be correct about compensation for this type of work? 

• Average salary-$37,000

  Median salary-$78,000

• Average salary-$39,000

  Earning potential-$78,000

• Entry level salary-$38,000

  Average salary-$78,000

• Entry level salary-$37,000

  Earning potential-$78,000

Amir wants to become a social worker but he knows that the salary for social workers is LOW. The typical entry level pay for this work in his state is around $38,000. His monthly earnings will be about $2,300 after taxes. 

Apartment rentals where he lives are expensive with the average rental being $1,800.

Which of the following two options should Amir plan now that he has learned of the apartment costs and that he could expect to make $2,300 a month?

• He should consider getting a roommate to cut the cost of renting in half.

• He should find a cheaper apartment and cut all other bills and spending down.

• He should consider putting his current bills on a credit card to afford the rent.

• He does not have to worry because he will make enough to afford an average rental.

Match the descriptions with the correct expense categories for expenses while attending higher education

• debt

• 
  

  
  

  You pay for damages to the apartment complex for damage to garage doors you caused.

• emergency expense

• 
  

  You pay rent for your apartment off of campus with your serving job.

• luxury expense

• 
  

  You buy a sectional couch to go into your apartment.

• living expense

• 
  

  You borrow money for year’s rent with your student loans.