|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 3.
Multiple Choice Questions
1. Under which category does money paid to employ servants and service workers fall?
(a) Work-related expense.
(b) Keeping up with the neighbors.
(c) More is better.
2. How is net worth determined?
(a) Multiply monthly income by 12.
(b) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.
(c) Add together everything owned, then subtract everything owed.
(d) All items purchased during a lifetime.
3. Why should people not budget their money?
(a) Budgeters feel as if they are giving up something they love.
(b) Budgeting increases spending.
(c) Budgeters are inclined to mathematical error.
(d) Budgeting takes time away from family activities.
4. How many perspectives of money are there?
(c) One for each person.
(d) An infinite number.
5. What is the term for the unnecessary things, activities, and noise in our lives?
Short Answer Questions
1. Why do people buy more than they need?
2. What are comforts, as defined in Chapter 1?
3. People strive to buy and earn more than they need to live at the peak of their fulfillment curve due to which perspective of money?
4. People should spend only until they are fulfilled, just as they should do what?
5. What is the real amount of life energy?
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