Management in Living

Question 1

1Buying goods on impulse without planning is

Easy

A. impulse buying B. bulk buying C. wise buying D. comparative shopping

Question 2

2Savings should be made

Easy

A. regularly, before spending on wants B. only by the rich C. only after wasting money D. never

Question 3

3Fixed expenses in a family budget include

Easy

A. snacks B. rent and school fees C. gifts D. entertainment

Question 4

4A budget is

Hard

A. a receipt B. a plan for spending and saving income C. a bank account D. a loan

Question 5

5A family earns GH¢3,000 a month and spends 30% on food. Its monthly food budget is

Medium

A. GH¢300 B. GH¢1,000 C. GH¢900 D. GH¢2,100

Question 6

6Buying a large quantity at once to get a lower price per unit is

Easy

A. impulse buying B. bulk buying C. hire purchase D. window shopping

Question 7

7Money left after taxes and deductions is

Easy

A. expenditure B. gross income C. net (disposable) income D. capital

Question 8

8Checking prices in several shops before buying is

Easy

A. comparative shopping B. hire purchase C. credit buying D. impulse buying

Question 9

9A warranty or guarantee on a new appliance promises that the seller will

Easy

A. reduce its price B. deliver it free C. buy it back at any time D. repair or replace it if it develops a fault within a set time

Question 10

10The goods and services that money can actually buy is

Medium

A. money income B. fixed income C. gross income D. real income