Chapter 1- Personal Rsources Flashcards

1
Q

What is a need?

A

A need is an basic requirement eg. Food,water and shelter

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is a want?

A

A want is something you desire eg .new phone

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is a resource?

A

A resource is anything that can help us reach our goal.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Give 3 examples of resources

A

Family,friends and time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What are personal resources?

A

Personal resources are what you do well eg . Abilities,skills and talents

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What are attitudes?

A

An attitude is your ideas and opinions about life.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What are material resources?

A

Material resources are money and possessions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is an influence?

A

An influence is the power to have an important effect on someone or something.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is a possession?

A

A possession are things that you own for your personal use. Eg .a bike,phone and deodorant

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are some personal influences?

A
Culture 
Age 
Gender
Hobbies 
Attitudes
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What are social influences?

A
Family and friends.
Famous stars 
Fashion trends 
Internet 
Social media 
Music
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is peer pressure?

A

When peers will try to influence how you act or what you do

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Economic influences?

A

The state of economy affects peoples wants and needs.
Low income -financial resources may be scare.
Economy healthy -borrow money to buy items they cat afford.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Environment influences?

A

If you care about our environment you may choose to not eat meat or to not buy fur or leather accessories

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Psychological(emotional) influences

A

Might buy buy something to make yourself feel good or to thank someone for their support etc

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is impulse buying?

A

Buying on the spare of the moment or unplanned spending

17
Q

Government influences

A

VAT will make products and services more expensive and this will make you buy less.

18
Q

What is a careful spender?

A

A careful spender is someone who plans what they are going to spend their money on.
They are SMART SPENDERS

19
Q

What is an asset?

A

Assets are items of value that you own eg phone, bike or car

20
Q

What is debt?

A

Debt is the amount of money that YOU owe to a person or a company

21
Q

What is wealth ?

A

Wealth is what you own (assets) minus what you owe (debts).

22
Q

What is income?

A

Income is the money that you receive eg your wage or salary