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Business Unit 1

QuestionAnswer
What is a need? Essential items for survival and well-being
What is a want? Non-essential items that provide comfort or enjoyment
What is income? Money received from work, investments, or government payments
What is a consumer? A person who buys goods or services for personal use
What is financial literacy? Financial literacy is the ability to understand and use financial skills such as budgeting, investing, and money management effectively.
What are personal values? Personal values are beliefs or principles that guide what a person thinks is important. E.g. Saving goals, attitude towards debt
Created by: Miss JM
 

 



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