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Economics > Chapter 14 > Flashcards

Chapter 14 Flashcards

1
Q

taxes

A

a change usually of money imposed by authority on persons or property for public purposes

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2
Q

What did Mark Twain say?

A

there are only two things certain in life- death and taxes

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3
Q

What did Oliver Homes say?

A

the price we pay for a civilized society.

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4
Q

3 categories of taxes

A

income taxes- payroll, investment, capitol gains
property tax- real estate, estate (death)
goods/services- sales, gas, excise, sin, user fees, luxery

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5
Q

3 major types of taxes

A

proportional
progressive
regressive

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6
Q

proportional

A

same percentage of taxation on everyone regardless of income

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7
Q

progressive

A

higher percentage tax on the rich than the poor

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8
Q

regressive

A

opposite of progressive

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9
Q

3 types of income taxes

A

federal
state
local

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10
Q

federal income taxes

A

social services
military/ gov workers
social security
medicare

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11
Q

state income taxes

A

social services
state colleges
roads
hospitals

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12
Q

local income taxes

A

education
police
health
social services

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13
Q

what are the three major groups exempt from taxes?

A

nonprofit organizations (churches, church schools, humanitarian groups- ADRA, Salvation Army)
us citizens working abroad
low-income workers

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14
Q

how long is the average job in length?

A

2.1 years

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15
Q

how many jobs might the average worker have in there lifetime?

A

20 different jobs.

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16
Q

what percents of American businesses have fewer than 100 employees.

A

98.3%

17
Q

what is the truth to the myth that as your grow, you change.

A

you do not outgrow your personality.

18
Q

what is the truth to the myth that you grow the most in the areas that you are weakest.

A

you grow the most in your strenghts

19
Q

what is never enough compensation for doing a job.

A

money

20
Q

What kind of job should you find? (what parts of your personality should it fit?)

A

one that blends your skills, abilities, personality traits, values, dreams, and passions.

21
Q

What test will yield tremendous insight into how you process decisions and what your natural tendencies may be.

A

DISC profile

22
Q

What kind of person is the D in DISC?

A

a person that is a hard-charging driver that is task-oriented and first looks to problems.

23
Q

What kind of person is the I in DISC?

A

the person is people oriented, fun, outgoing, and generally concerned about people pleasing, so they first look to people.

24
Q

What kind of person is the S in DISC?

A

a person that is amiable, loyal, does not like conflict and is concerned about pace.

25
Q

What kind of person is the C in DISC?

A

the person is analytical, loves detial, factual, can seem rigid, and loves procedures.

26
Q

What are the two steps a person should do in developing a stagegy about job hunting?

A

identify your target

learn everything you can about them.

27
Q

In what way should you think when it is time to contact a company looking for a job?

A

think of it as starting a relationship

28
Q

in what three ways should you contact a company?

A

introduction letter
resume
phone follow-up

29
Q

What are the steps to a successful interview?

A 
present yourself well
Be on time
address everyone by name
offer a handshake
maintain eye contact.
30
Q

raising your income long term…

A

is a career track issue

31
Q

raising your income short term…

A

is a dreaded part time job

32
Q

how do you get started with an extra job?

A

be willing to sacrifice to win
have a detailed plan to you see the finish line
choose the job or start a home based business

33
Q

what should not be the source of all your satifaction and self-worth?

A

your work

Economics (7 decks)

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