4. Utilities is one of the components or elements of a family budget, which group of terms best describes utilities?
A. accessories, clothes, and uniforms
B. family outings, outside dining, watching movies
C. gas, electric, water, and telephone bills, salaries of helpers
D. groceries, raw and cooked food, staples, condiments, and spices

5. Ortiza family allotted 8% for emergency or savings in their family budget plan. How much budget will the family save in a year if their monthly earnings reach to P68, 987.00?
A. P66, 227.52
B. P66, 225.72
C. P66, 222.75
D. P66, 222.57

6. Which of the following is simply defined as "a plan where the family income is divided into different expenditures?
A. budget
B. debt
C. expenditures
D. savings

7. Which of the following is NOT a social need of a family?
A. appreciation
B. bullying
C. sense acceptance
D. sense of belonging

8. 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

9. Why budgeting is very important for your family?
A. It gives a feeling of comfort knowing that our family income is enough for a period of time.
B. It enables our family to identify what needs to be prioritized.
C. It helps our family to control finances.
D. All of the above.

10. Who among the families practices "prioritizing needs over wants" during the pandemic?
A. Arciaga family applied an internet connection for online games of the children. B. Bravo family ate meals once a day to save money for their dream car.
C. Castro family cooked meals rather than going to fast food chains.
D. Delfino family used their savings in buying expensive plants.​