Uni personal finance - Study guides, Class notes & Summaries

UNI PERSONAL FINANCE TEST 2024 ACTUAL QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION

After financial literacy class John wondered what was meant by utility. You tell him that utility means... - It is the satisfacation a person receives from consuming goods and services The average propensity to consume is defined as the necessities comforts and luxuries enjoyed or desired by an individual or family - False Utility describes the amount of satisfaction received by purchasing/utilizing goods or services - True What does standard of living mean - Level of material necessi...

Living the "good life" - High level of well-being well-being - "a state of being comfortable, happy, and healthy." Standard of living - he level of material necessities and luxuries enjoyed or desired by an individual or family Utility - the satisfaction received from consuming goods and services Money - medium of exchange for goods and services Average Propensity to Consume - Percentage of income spent Short-term goal - 0 - 2 years

MRS. JONES' PERSONAL FINANCE AND CONSUMER MATH UNIT 5 TEST (5.1-5.3) :) QUESTIONS AND ANSWERS WITH SOLUTIONS 2024