Money that you make from working is called ____________.
income
15
Salary and wages are two different names for _____________.
income
15
Name three sources of income that do not involve working.
Government assistance, retirement benefits, and spousal support
15
A mortgage is a loan for a ____________.
house
15
Who uses credit?
consumers, government, and businesses
15
Name three times that using credit is a good idea.
to start a business, to pay for education, when purchasing a home
15
What is money owed called?
debt
15
A typical job requires you to work ________ hours.
40
15
The nature of the pay scale, the time of day or week worked, the difficulty of the job, and the number of hours worked influence a person's ________________.
salary wages income (any one of these is correct)
15
A _____________ is a formal request to produce or sell something. If you meet the request you will get a percentage of the money earned.
Commission
15
Why is sticking to a budget important?
It is easy to overspend when you do not have a budget.
15
A salary is a ______________________________ paid for hours worked.
fixed amount of money
15
Give three reasos why people should save money.
for financial emergencies, in order to have money to buy large items, to have money to purchase the goods and services.
15
How can you avoid paying interst if you pay with ________________.
cash, check, or debit card
15
Money borrowed is called ________________.
credit
15
Money that is easy to obtain and spend is called ______________.
