Review Unit 6 Concept 1

The rational decision-making model is essentially a cost-analysis analysis, but with a bit more depth.

• True
• False

Opportunity occupations offer economic opportunity for those who have completed college.

• True
• False

Generational wealth can include anything from artwork to family farms.

• True
• False

Bob is a photographer. He charges $1,500 to photograph a wedding. What type of pay is this?

• Independent Contractor
• Hourly Wages
• Tips
• Salary
• Dividends

Martha works as a server in a restaurant. When people pay their bill, they add a percentage of the amount to give to Martha. What type of pay is this?

• Tips
• Hourly Wages
• Salary
• Independent Contractor
• Dividends

Max purchased 100 shares of Amazon stock in 2020 at $350 per share; he decided to sell all the shares in 2024 at $833 each. What type of pay is this?

• Capital Gains
• Hourly Wages
• Tips
• Salary
• Independent Contractor

Dan drives a bus and gets paid by the hour. What type of pay is this?

• Hourly Wages
• Tips
• Salary
• Independent Contractor
• Dividends

The local fruitcake company decides to close down and begins liquidating its assets. Proceeds are distributed to shareholders. What type of pay is this?

• Dividends
• Hourly Wages
• Tips
• Salary
• Independent Contractor

Sonia teaches a kindergarten class. She is paid the same amount every week no matter how many hours she works. What type of pay is this?

• Salary
• Hourly Wages
• Tips
• Independent Contractor
• Dividends

Jim owns a tree removal business. He earns $100 for every tree he safely removes. What type of pay is this?

• Independent Contractor
• Hourly Wages
• Tips
• Salary
• Dividends