Practice Real Income (10.2.1.2) - Financial Management and Planning - CBSE 11 Human Ecology and Family Sciences Part II

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9 questions

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3 cards from this section. Quick, good the night before a test.
Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What is real income?
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Think of what you can enjoy or use, not just your paycheck.
Question 2.
Define direct income.
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Consider the services your family members provide at home.
3Question 3.
What defines real income?
- A fixed monetary amount
- A flow of goods and services
- A set of savings
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Focus on what you can use for living.
4Question 4.
Is direct income tangible or intangible?
- True
- False
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Consider what you actually use or do at home.
Question 5.
If a family assesses their real income and finds they're primarily consuming direct income services, what implications could this have on their future budgeting?
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Consider the balance between self-sufficient services and purchasing needs.
Question 6.
How might a family's over-reliance on indirect income impact their direct income from services?
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Reflect on the importance of self-sufficiency versus dependency.

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