Personal Finance Chapter 1

Demographics are statistical characteristics of a population

Forms of communication designed to reach a large number of people refers to

What is the first step in the systematic decisions-making?

Value or goal that is given more importance than other values & goals.

State of the economy at a given time.

Change in total benefit of using one additional unit.

Overview of an individual's current financial position & strategies to meet future financial aspirations.

Supply of something that can be used when needed.

Period of rising prices.

What decision-making strategy weighs the costs against the benefits of an action, purchase, or financial decision

The correct order for the 3 stages of management are: planning, evaluation, and action.

Overall structure of values & goals that guides a person's behavior & provides a sense of direction in life

Globalization gives you access to a vast diversity of goods & services through worldwide markets.

Tangible items that can be touched, used, and purchased are

Having the ability to understand basic topics related to finance.

Ethical behavior call for honesty. Which of the following actions could be considered ethical?

Social security, Medicare, and Medicaid are examples of what?

Which of the following is an example of a human resource?

When one goal must be achieved in order to achieve another goal the two goals are important.