WorksheetsCh 2 Managing Money – Learning the Language
Total questions: 13
Worksheet time: 7mins
What is a resource with economic value that a person, company, or country owns with the expectation that it will provide a future benefit? Cash, stock, buildings, and copyrights are all different kinds of this.
Asset
Liability
Expense
Revenue
What is a financial summary of anticipated income and expenditures?
Budget
Invoice
Receipt
Contract
What is the income you have available to use for spending or saving?
Cash Flow
Gross Income
Net Worth
Liabilities
What do you call a person or organization that uses a commodity or service?
Consumer
Producer
Supplier
Manufacturer
What is the process of weighing the pros and cons of a decision before you make it?
Cost Benefit Analysis
Impulse Buying
Brainstorming
Procrastination
What are unexpected and sometimes hidden fees that companies charge for a service that costs them little or nothing to provide?
Junk Fees
Premium Charges
Core Service Fees
Mandatory Taxes
What is the highest valued alternative not taken in an economic decision?
Opportunity Cost
Marginal Benefit
Sunk Cost
Fixed Cost
What is the value your money generates in the market called?
Purchasing Power
Inflation Rate
Market Share
Gross Income
What is the level of spontaneity or patience you exhibit when making financial decisions called?
Spending Habits
Financial Literacy
Budgeting Skills
Investment Knowledge
What is a reflexive form of buying without pausing to weigh alternatives, spending then thinking?
Impulse Spending
Planned Purchase
Budgeting
Delayed Gratification
What is payment received for goods or services, or from other sources, such as rents or investments?
Income
Expense
Liability
Debt
What is a cost, like rent, that is consistent and predictable month to month?
Fixed Expenses
Variable Expenses
Irregular Income
Discretionary Spending
What are costs like groceries, gasoline, and utilities that can change from month to month called?
Variable Expenses
Fixed Expenses
Discretionary Expenses
Capital Expenses
