JC Business 1.2
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Income | The money you receive, on a regular basis from work or through investments, and on an irregular basis from other sources.
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| Expenditure | The money that we spend out of our take-home pay.
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| Want | Something that you desire, but that can live without. It is not essential for your survival.
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| Need | A basic requirement that you must have in order to survive.
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| Regular Income | Income that you are sure you will receive.
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| Irregular Income | Income that you are not sure you will receive.
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| Benefit-in-Kind | Is non-monetary (non-cash) income, e.g. a company car.
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| Wages | Is regular income for hours worked or number of goods produced.
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| Salary | Is regular income received for doing a job no matter how many hours you spend at it.
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| Child Benefit | Regular income received once a month from the government if you have children under the age of 16.
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| Pension | Regular income received from the government or a pension fund when you retire.
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| Social Welfare | Regular income receive weekly from the government if you are unable to work.
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| Family Income Support | Regular income received by families on a low income from the government.
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| Bonus | Additional income given for reaching certain targets.
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| Commission | Additional money calculated as a percentage of sales.
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| Inheritance | Additional income received from a relative or friend when they die.
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| Tax Refund | Money back from the government when too much tax has been paid.
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| Interest on Savings | Additional income received when you invest money in the bank.
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| Dividends on Shares | Additional income received when you own part of a company and you receive a share of the profits.
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| Fixed Expenditure | Bills that have to be paid regularly, each week or each month.
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| Irregular Expenditure | Bills paid each week or month, but the price may change from one bill to the next.
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| Discretionary Expenditure | After all the bills have been paid, the money that we spend on nice things or ‘non essentials’.
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| Opportunity Cost | The item that is not selected when we make a choice based on our limited income.
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| Impulse Buying | Buying something on the spur of the moment, without thinking or planning.
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| False Economy | Buying something because it is cheap even when you don’t need it.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
Dinneenj
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