Things an individual does not have to have in order to survive, but could give the person a higher quality of life.

PHS EPF Unit 2 Vocab

Quiz
•
Other
•
9th - 12th Grade
•
Medium
Alisa Detrick
Used 39+ times
FREE Resource
28 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Net Worth
Wants
Needs
variable expenses
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Too much of an item in stock.
Deficit
surplus
macroinventory
product loss
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The total asset and cash an individual has minus their liabilities.
Net Worth
Net pay
Gross pay
Income
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What an individual gives up to have something else
Wants
Needs
opportunity cost
surplus
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
SMART goals are:
Smart, Realistic, Attractive, and Transparent
Smart, Measurable,
Attainable, Reliable, and Time oriented.
Specific, Movable, Attractive, Realistic and Time oriented
Specific, Measurable, Attainable,Realistic, and Time oriented.
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The amount of money an individual may receive back from the IRS after they file their taxes.
Tax Refund
Trade off
Income Tax
Windfall Income
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Items and money an individual is allowed to claim on their taxes to help lower their taxable income. Items could include donations, new energy purchases
Tax write off
Tax Domination
Tax Deductions
Tax refund
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