Personal Finance
LESSON 1
1) Name at least two things that financial planning help you do.
- It helps you track all inflows and outflows.
- The cash flow planning shows you when you might run out of cash. Therefore, you will have to conserve your cash!
2) What is trade?
- The action of buying and selling goods and services.
3) What is a service?
- The action of helping or doing work for someone.
4) Name one of the three functions of money.
- A unit of account - it used to measure
5) The real estate market is categorized in which way?
- Residential
- Commercial
- Industrial
- Agricultural
6) What is a country’s GDP?
- Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of time.
LESSON 2
1) What is market economy?
-A market economy is an economy in which decisions regarding investment, production and distribution are based on supply and demand,[1] and prices of goods and services are determined in a free price system.
2) Name at least two features of capitalism.
- laissez-faire - as little gov't interference in the economy as possible
-private ownership of companies and businesses - this would provide for competition among businessmen and bring prices down for consumers.
3) A business that sells watches that are more inexpensive than the watches a competitor sells is using which of competition.
- A Luxury Business Model is being used when a company sells merchandise more expensive than competitors
4) What is a monopoly?
- The exclusive possession or control of the supply or trade in a commodity or service. -The exclusive possession, control, or exercise of something: "men don't have a monopoly on unrequited love".
5) What is a motive?
- A reason for doing something, esp. one that is hidden or not obvious.
LESSON 3
1) What is land as a factor or production?
- Input determines the quantity of output i.e. output depends upon input. Input is the starting point
1) Name at least two things that financial planning help you do.
- It helps you track all inflows and outflows.
- The cash flow planning shows you when you might run out of cash. Therefore, you will have to conserve your cash!
2) What is trade?
- The action of buying and selling goods and services.
3) What is a service?
- The action of helping or doing work for someone.
4) Name one of the three functions of money.
- A unit of account - it used to measure
5) The real estate market is categorized in which way?
- Residential
- Commercial
- Industrial
- Agricultural
6) What is a country’s GDP?
- Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of time.
LESSON 2
1) What is market economy?
-A market economy is an economy in which decisions regarding investment, production and distribution are based on supply and demand,[1] and prices of goods and services are determined in a free price system.
2) Name at least two features of capitalism.
- laissez-faire - as little gov't interference in the economy as possible
-private ownership of companies and businesses - this would provide for competition among businessmen and bring prices down for consumers.
3) A business that sells watches that are more inexpensive than the watches a competitor sells is using which of competition.
- A Luxury Business Model is being used when a company sells merchandise more expensive than competitors
4) What is a monopoly?
- The exclusive possession or control of the supply or trade in a commodity or service. -The exclusive possession, control, or exercise of something: "men don't have a monopoly on unrequited love".
5) What is a motive?
- A reason for doing something, esp. one that is hidden or not obvious.
LESSON 3
1) What is land as a factor or production?
- Input determines the quantity of output i.e. output depends upon input. Input is the starting point