II. Read the questions carefully. Encircle the letter of the correct answer. 1. Which is the practical way of budgeting? A. least priority for savings B. spends more than the family income C. buys unscheduled expenses D. buy products that are of good quality and reasonable price 2. What do you call the goods or services that are not necessary, but we desire or wish for? A. needs B. wants C. budget D. expenses 3. Which of the following is one of the basic needs of the family? A. food B. imported shoes C. camera D. branded cellphone 4. What are the things that a person should have to live a quality life? A. wants B. needs C. house D. wealth 5. Why do we need to make a practical budget for the family? A. to let other people buy things for you B. to be able to save some portion intended for your wants C. to be able to buy expensive things that are not necessary. D. to avoid things that not so necessary and make use of some portion to savings or for emergency purposes​