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Personal Financial Literacy 1st Edition Joan Ryan - Solutions
7. The lowering of overall price levels is called .
6. Setting a price based on how much the consumer is willing to pay is called .
5. The concept says that money received today is worth more than money received in the future.
4. is a method of informing consumers and promoting and selling products.
3. occurs when prices are high, drop, and then rise to their previous high level.
2. occurs when businesses raise prices due to rising costs for producing products.
1. The spending habit called is spending money only when you have to and then spending as little as possible.
What are the median annual earnings for this job?
What training or qualifications are needed for this job?
What is the job outlook for this job?
What is the nature of the work this job involves?
3. Search for more information about the job you selected to answer these questions:
2. Access the Occupational Outlook Handbook online. A link to the site is provided on the Web site for this textbook.
1. Choose a job in education to explore further. Select a job from the list above, or choose another job in this career area.
3. Look through a daily newspaper or magazine. Make a list of the types of advertisements you find. For each type of ad, describe the target audience. Then tell whether the appeal is logical (to meet real needs) or emotional (to convince people they need a product).Tell whether or not you think the
2. Listen to a local radio station for one-half hour. Write down every commercial you hear. For each ad, describe the people you think are in its target audience. Then tell whether the appeal is logical (to meet real needs) or emotional (to convince people they need a product).Tell whether or not
1. Watch television for one-half hour. During that period, write down every ad (commercial) you watch. For each ad, describe the people you think are in its target audience. Then tell whether the appeal is logical (to meet real needs) or emotional (to convince people they need a product). Tell
5. List three things you can do after your purchase to make better decisions in the future.
4. List three things you can do while shopping to make better purchase decisions.
3. List three things you can do before you shop to improve your buying power.
2. List three types of media that sellers can use to help create demand for a product.
1. List strategies, other than having the right price, for selling goods to consumers.
Discuss strategies buyers can use before, during, and after a purchase.
Explain how businesses are able to create demand for a product.
Describe strategies used by businesses to sell goods and services.
3. If you had to make this purchase decision again, would you choose the same item? Why or why not?
2. Was this item purchased as a result of economizing or optimizing?
1. How do you think the price was set for this product—using cost-plus, value-based, or market-based pricing? Why?
6. How can using effective time management strategies lead to better buying decisions?
5. What is optimizing? How does using this buying strategy affect demand and prices in a market economy?
4. What is economizing? How does using this buying strategy affect demand and prices in a market economy?
3. Why might shoppers want to set up an account on a retail Web site they use often?
2. How is a market-based pricing strategy different from a value-based pricing strategy?
1. How are prices set when using the cost-plus pricing strategy?
Explain how consumers’ buying strategies affect demand and prices in a market economy.
Describe three methods of setting prices in a market economy.
4. In the long run, what will you do if the price keeps rising? For example, will you find substitutes, stop using the product, or give up something else in order to be able to buy this product?
3. What effect has the price change had on your spending habits?Have you purchased less of that product? Have you purchased less of something else in order to keep buying that product?
2. How much is the price change (in dollars and cents)? What percentage increase or decrease is this amount?
1. Has the price gone up or down in the last year?
7. Explain what is meant by the time value of money?
6. How does inflation affect spending, saving, and investing decisions?
5. Explain how inflation and employment levels are related.
4. How does demand-pull inflation differ from cost-push inflation?
3. What is deflation?
2. Explain how disinflation, reflation, and hyperinflation differ.
1. What is inflation? How is it measured?
Explain how inflation affects spending, saving, and investing decisions.
Explain how inflation and employment levels are related.
Describe the causes of inflation.
Describe types of inflation.
Define inflation and explain how it is measured.
3. For how long can a person draw benefits?
2. How is the amount of the benefit determined?
1. What are the requirements for drawing unemployment benefits?
4. Would you like to do this kind of work? Why or why not?
3. What kinds of benefits currently are being offered to people in this profession?
2. What is the beginning pay level?
1. How many hours a week does a beginning-level employee work?
17. is the amount left after all costs are deducted from the income of a business.
16. A(n) is a required payment for the support of a government.
15. are taxes charged on the purchase of specific goods, such as motor fuel, cigarettes, and alcohol.
14. A benefits package, called a(n) , is where employees can pick and choose the benefit options they want to have.
13. A(n) is cash paid to stockholders of a corporation.
12. Money or benefits received from government without working for them when they are received are called .
11. Earnings paid when an employee works more than 40 hours in a 1-week period are called .
10. Earnings that are paid only when efforts result in a sale are called a(n) .
9. Days you are paid for even though you are not at work due to illness are called .
8. are forms of pay other than salary or wages, such as paid vacations or holidays.
7. Money received from customers, called a(n) , is based on quality of service.
6. The lowest pay rate allowed by law for each hour of work is called.
5. is time away from work for personal reasons.
4. Most companies have , such as Christmas, Veterans Day, or Memorial Day.
3. Money left over to spend or save after taxes are paid is called.
2. Money received from sources other than working in a job is called.
1. A(n) , or business owner, takes the risks of owning and operating a business.
What are the median annual earnings for this job (given in the Earnings section of the Web page)?
What training or qualifications are needed for this job?
What is the job outlook for this job?
What is the nature of the work this job involves?
11. List three optional deductions that might be taken from a worker’s pay.
10. List the parts of a good emergency plan.
9. List four factors related to workplace accidents and injuries.
8. To whom does workers’ compensation pay benefits?
7. Medicare taxes pay for what services?
6. What form must a new employee complete to provide a Social Security number and claim status as a citizen of the United States, a lawful permanent resident, or an alien who is authorized to work?
5. Give an example of a person who may qualify as a dependent and can be claimed as an exemption on your Form W-4.
4. What is an exemption as it relates to a Form W-4?
3. How is net pay calculated?
2. List three types of required deductions for taxes.
1. How does the amount of tax a person pays affect the person’s disposable income?
Complete a federal income tax return.
Complete a Form I-9 and a Form W-4.
List examples of optional deductions from pay.
Compute net pay.
List types of deductions required for taxes.
Explain how taxes affect disposable income.
10. Give one example of goods or services funded by taxes that benefit everyone.
9. How are government transfer payments funded?
8. Give one example of how paying taxes can directly benefit a person.
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