Practice Steps in Money Management - 8.1 | 3. Resource Management | ICSE Class 12 Home Science
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

List two sources of income.

💡 Hint: Think about all the ways money comes into your budget.

Question 2

Easy

Identify one need and one want.

💡 Hint: Consider what you must have to survive versus what enhances your lifestyle.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What is the first step in money management?

  • Creating a budget
  • Listing income and expenses
  • Evaluating savings

💡 Hint: Think about what you need to know to manage money effectively.

Question 2

True or False: Wants are considered more important than needs in budgeting.

  • True
  • False

💡 Hint: Remember which type of expense is essential for survival.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

Create a detailed budget and track your spending for a month. Assess whether you stayed within your budget and identify areas for improvement.

💡 Hint: Reflect on fixed vs. variable expenses during your analysis.

Question 2

If you realize your entertainment spending is too high compared to your income, what strategies can you implement to reduce it while still enjoying leisure activities?

💡 Hint: Think creatively about ways to enjoy leisure without overspending.

Challenge and get performance evaluation