Practice Family Income (10.2) - Financial Management and Planning - CBSE 11 Human Ecology and Family Sciences Part II

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8 questions

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Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
2 questions · about 1 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
Define family income in your own words.
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Think about all sources of income in your family.
Question 2.
What is money income?
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Consider what money comes into your family regularly.
3Question 3.
What does family income represent?
- Total income from all sources
- Only salary
- Only gifts
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Consider all the money coming into the household.
4Question 4.
True or False: Psychic income can be measured easily in monetary terms.
- True
- False
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Think about how happiness is often valued.
Question 5.
If a family has a salary of $60,000, rental income of $10,000, and received $5,000 in gifts, calculate their total family income.
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Add all income sources together.
Question 6.
Discuss how a sudden loss of a job impacts the family's real income and psychic income.
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Consider what changes for family expenses and happiness.

4 more questions in this section. Enroll free to practise them all.