1. Directions: Read the items carefully. Encircle the letter of the correct answer. 1. Time, health, and experience are considered family resources also. What type of resources they belonged? A. Human Resources © Non-Material Resources B. Material Resources D. Non-monetary Resources 2. What type of family resources is defined as "all able-bodied members of the family who can contribute their effort, skills, strength, and expertise"? A. Human Resources B. Material Resources C. Non-Material Resources D. Non-monetary Resources 3. Which of the following is NOT a basic need of a family? A. clothing D. expensive car C. shelter B. food 4. Which of the following terms is defined as "desires an individual would like to have for enjoyment and satisfaction"? A. desires B. needs C. wants D. wishes D. wishes 5. In family budgeting, which of the following is your priority? A. desires B. needs C. wants 6. Which of the following kind of money income received by retired persons, old age widow and other pensioners? A. dividends B. pension C. salary D. wage D. wage 7. What kind of income is defined as monthly salary of a person who are doing government or private services? A. dividends B. pension C. salary 8. Mrs. Bueno considers the following as needs of her family during the Covid-19 pandemic. Which one is considered as wants only? A. alcohol B. magazine C. soap D. face mask 9. Which of the following is NOT a real income? A. gift check B. poultry farms C. garden produce D. inherited agricultural land 10. Utilities is one of the components or elements of a family budget. Which group of terms best describes utilities? A. clothes and uniforms B. family outings and watching movies C. electric and telephone bills D. groceries and raw and cooked food

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