WorksheetsQuest for Success Unit 6 Vocabulary - Part 1
Total questions: 14
Worksheet time: 7mins
An estimate of income and expenditure for a set period of time is a ______________.
gross income
budget
sales tax
cash flow
What is the total amount of money being transferred into and out of a business or household?
inflation
cost comparison
variable expense
cash flow
Who is the person who purchases goods and services for personal use?
dependent
consumer
What is the process by which business decisions are analyzed, the benefits of a given action are summed, and the costs associated with that action are subtracted?
opportunity cost
cost comparison
purchasing power
cost-benefit analysis
The process of comparing the price of different products and services is called _________________.
cost comparison
purchasing power
variable expense
cash flow
_________________ means being financially sound enough to justify the extension of credit such as repayment history and credit score.
depreciation
creditworthy
income
budget
A person who relies on another usually for financial support is a ________________.
consumer
financial advisor
dependent
What is the reduction in the value of an asset with the passage of time?
inflation
expense
depreciation
opportunity cost
What is the cost required for something?
sales tax
need
budget
expense
Who is the person who provides financial services or guidance to clients?
consumer
financial advisor
dependent
A ___________ expense is the same total amount regardless of changes in the amount of sales, production, or some other activity.
fixed
variable
A _______________ expense can change depending on the use of products or services and are somewhat unpredictable.
variable
fixed
_________________ income is an individual's total pay before accounting for taxes or other deductions.
Net
Gross
What is money received, especially on a regular basis, for work or through investments?
budget
expense
cash flow
income
