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[FCE] Money & Resource Management Flashcards | StudBud
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[FCE] Money & Resource Management
[FCE] Money & Resource Management
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Questions
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Answers
1
Needs are things that we can live without.
False.
True.
2
What is the process of preparing a spending plan known as?
Earning money.
Saving money.
Budgeting.
3
Wants are things that we desire but may not actually need.
True.
False.
4
Which of the following is not an example of an unexpected emergency when it comes to saving money?
Household repairs.
Health condition.
Travelling.
Job loss.
5
A branded school bag is a need.
False.
True.
6
Which of the following does not help with budgeting when one overspends?
Store food in reusable plastic containers.
Reducing money spent on snacks.
Treating friends to food everyday.
Reusing old items such as old files to file up worksheets.
7
Which of the following is not part of the decision making process?
Consider possible solutions and the results to the problem.
State the problem.
Evaluate your decision.
There is no need to choose the most suitable solution.
8
Pocket money is an example of an income.
False.
True.
9
A blue pen is a need to prepare for the new school term.
True.
False.
10
Having a personal budget will help us to plan our income without overspending.
True.
False.
