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16 Cards in this Set
- Front
- Back
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Amanda always wanted to become a nurse even though she knew that health care
professionals do not generally make good salaries. Amanda's choice of occupation will directly influence her: |
standard of living.
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Rick cannot afford to buy Christmas gifts for everyone in his family. This illustrates:
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the Law of Scarcity.
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Sharon paid for an unexpected trip to the emergency room instead of paying her car
payment. This illustrates: |
an opportunity cost.
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Tom borrowed $100 from a friend to buy items he needed for work with a retail value
of $300. When he gets his next paycheck, he will have enough money to pay off the debt. This illustrates: |
wise use of credit to extend a person's buying power.
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The Hayes family puts aside $50 every month for unexpected emergencies. When Mr.
Hayes lost his job, the family was glad to have this money to pay bills until he could find a new job. This illustrates: |
forming the habit of saving regularly.
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Jim decided to save his money for his senior expenses rather than spending it at the
mall. This illustrates: |
making wise choices in light of trade-offs.
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Fred put 5% of his earnings into an interest-bearing savings account each month. For
Fred, this illustrates which benefit of saving? |
Can be used to earn additional income
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Ted earns $250 a week from his part-time job. His goal is to save $150 each month to go
on a vacation. Which phrase BEST describes this goal? |
Measurable, but not time-bound
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Mary's goal is to put aside money for Christmas presents from May until December.
Which phrase BEST describes this goal? |
Time-bound, but not measurable
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Mr. Matthews bought the first box of candy he saw for his wife's birthday. This
illustrates a decision made: |
on impulse.
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At breakfast, Carla's Dad announced a family trip to visit his mother. At lunch, Mary
invited Carla on a shopping trip and Jeff invited Carla to join him for a picnic lunch. Then Carla realized that all the invitations were for the same day and she would have to make a choice. Which step in decision-making is this? |
Identify the decision to be made
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At the end of her freshman year at State University, Vera thought about the decision
she had made to go to a state-supported university and realized she had made a smart choice. Which step in decision-making is this? |
Evaluate the outcomes of the decision
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Sarah's concern over the rate of inflation caused her to set a goal to reduce the amount
of money she spends on impulse purchases. Which type of factor MOST LIKELY influenced Sarah's decision? |
Economic
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Cal decided to take community college classes the summer after he graduated because
high unemployment made it difficult to find summer jobs. Which type of factor MOST LIKELY influenced Cal's decision? |
The workplace
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Which is the BEST example of wants influencing financial decisions? The Barton family
decided to spend their tax refund to: |
take a trip they had longed for.
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Which is the BEST example of standards influencing financial decisions? The Darden
family decided to spend their tax refund to: |
keep up with their neighbors by buying a new big-screen television.
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