Personal Finance

Front

The following have a long-term, lasting effect on a person's life: Routine decisions, Hasty decisions, Major decisions, Short term decisions

Back

Major decisions

Front

What is a value?

Back

A fundamental belief or practice about what is desirable, worthwhile, and important to an individual

Front

What is the definition of a major decision?

Back

Choices that have long-term effects on a person's life

Front

What is a need?

Back

Items that are necessary for survival.

Front

A type of major decision that has an impact on an individuals or family's well being is:

Back

Financial decision

Front

Which step is not part of the decision making process? Options: Identify the problem, List alternatives, Decide without considering consequences, Evaluate the results

Back

Decide without considering consequences

Front

The state of being happy, healthy and prosperous

Back

Well being

Front

What is a want?

Back

Something that an individual would like to have, but won't die without it

Front

Which characteristic does not describe both routine and major decisions? Affect a person's life, Guided by individuals values, Contribute to an individual's or family's well-being

Back

Can be made without thinking and may become a habit

Front

What are the steps in the decision making process? Options: Guess the answer, ask a friend, hope for the best.; Identify the problem, list the alternatives, decide, evaluate the results; Make a plan, ignore options, pick the first choice; Describe the situation, talk to everyone, wait for someone to decide

Back

Identify the problem, list the alternatives, decide, evaluate the results