Ms O Brien Chanel College

Ms O Brien Chanel College

3 lifelines:

•50/50 – your teacher will tell you

which two are available

•Phone a friend – choose one person in the audience to

ask

•Audience – hand up for A/B/C/D

Ms O Brien Chanel College

Which one of the following is an example of Irregular Income?

A. Wages B. Electricity Bills

C. A Holiday D. Lotto win

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Ms O Brien Chanel College

Ms O Brien Chanel College

What do the letters PRSI stand for?

A. Pay right Social Insurance B. Pay Related Sunday Insurance

C. Pay Related Social Insurance D. Price Related Social Insurance

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Ms O Brien Chanel College

Ms O Brien Chanel College

What is PAYE?

A. A form of Tax B. A form of Insurance

C. A form of Child Benefit D. A Voluntary deduction

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Ms O Brien Chanel College

Ms O Brien Chanel College

Which of the following is an Involuntary deduction from Gross wages

A. Savings B. Trade Union Fees

D. PAYEC. Commission

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Ms O Brien Chanel College

Ms O Brien Chanel College

You have €10. You can buy a cinema ticket or a football ticket. You choose the cinema ticket. What is

the Opportunity Cost

A. The Football Match B. €10

C. The Cinema Ticket D. The Financial Cost

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Ms O Brien Chanel College

Ms O Brien Chanel College

An unemployed person is entitled to which of the following?

A. Social Welfare Benefit B. A pension

C. Commission D. Nothing

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Ms O Brien Chanel College

Ms O Brien Chanel College

What term is used to describe buying without planning?

A. False Economy B. Impulse Buying

C. Opportunity Cost D. Bad Budgeting

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Ms O Brien Chanel College

Ms O Brien Chanel College

Shane sold 20 t-shirts at a cost of €10 each. He is entitled to 5% commission on each t shirt sold.

How much will he receive in total?

A. €10 B. .50c

C. €5 D. €200

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Ms O Brien Chanel College

Ms O Brien Chanel College

Which of the following are examples of Current Expenditure?

A. A Washing Machine B. A TV

C. A Fridge D. Newspaper

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Ms O Brien Chanel College

Ms O Brien Chanel College

The amount due on an ESB bill is €50 plus 13.5%?

A. €43.25 B. €6.75

C. €63.50 D. €56.75

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Ms O Brien Chanel College

Ms O Brien Chanel College

In a household budget Total Income – Total Expenditure is?

A. Closing Cash B. Net Cash

C. Opening Cash D. Surplus

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Ms O Brien Chanel College

Ms O Brien Chanel College

What word is used to describe when you have money left over at the end of the month?

A. Subtotal B. Net Cash

C. A Surplus D. A Deficit

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Ms O Brien Chanel College

Ms O Brien Chanel College

What is the money you have at the start of the month called?

A. Income B. Closing Cash

C. Net Cash D. Opening Cash

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Ms O Brien Chanel College

Ms O Brien Chanel College

Mary earns €10 per hour. If she works two hours overtime on time and a half how much will she

receive in total for those two hours?

A. €5 B. €30

C. €15 D. €10

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Ms O Brien Chanel College

Ms O Brien Chanel College

False economy is

A. An economist lying about the economy B. Going into debt

C. Spending money on something which appears to save money but over a longer period of time costs more money

D. Spending money on something expensive when you should have bought the cheaper alternative item

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Ms O Brien Chanel College

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Ms O Brien Chanel College

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