baejuhyeoned's version from 2018-09-29 14:01

Lesson 1

Question Answer
ManagementEffective and efficient management of human, monetary, material & environmental resources
EfficientDoing the task with care and finishing it in smallest time possible
EffectiveDoing task for the sake of just finishing it
DisciplineWhen your parents set rules regarding curfew, watching television, going out with friends, they expect you to follow these rules
Needs & Wants2 classifications of family expenses
NeedsAre expenses that the family members cannot do without
NeedsAre expenses that include food, clothing, housing, health maintenance and children's education
WantsAre expenses for the family's recreation and comfort
WantsAre expenses that include fancy clothes, recreational appliances and out of town trips for vacation

Lesson 2

Question Answer
(1) Number & Age of the family members, (2) Available resources, (3) Jobs to be accomplished, (4) Size & structure of the house4 Factors affecting the Use of Time & Energy
Work simplificationrefers to the systematic and organized use of time and energy
Work simplificationmeans that planning activities carefully to avoid doing the same thing twice, or to do more with less time
Maximize use of time and energyFirst principle of Work Simplification
Avoid problemsSecond principle of Work Simplification
Devise ways that will minimize workThird principle of Work Simplification
(1) Family situation, (2) Attitude towards life, (3) Practice of DisciplineFactors that affect

Lesson 3

Question Answer
IncomeIs the amount of money earned for a certain period of time through employment or business
For employees, IncomeIs a fixed amount received at a specific period
Family IncomeIncome earned by family members within a certain period
ExpensesCost incurred for specific household needs
Fixed expensesExpenses that are paid regularly in fairly consistent amounts; allowances for school and transportation, taxes and insurance
Variable expenses Expenses that are paid for irregular intervals; entertainment, medical consultations, clothing and social affairs
Budget planHelps one in managing the family's income
BudgetDivides the family income among the different needs of the member
BudgetPlan of allotting and spending family income
(1) Income, (2) Family Needs, (3) Size of family & Age of members, (4) Place of residence, (5) Social Status5 Factors that affect family budget
IncomeIt should be enough for the needs of family
Family NeedsThese are determined by the values and interests of family
Size of family & Age of membersThe bigger the number of family, the bigger the expenses
Place of residenceA family that lives in the city spends more than those who live in provinces
Social StatusThose who belong to elite families live a luxurious life. Average earners have simpler needs

Lesson 4

Question Answer
(1) Food, (2) Housing, (3) Education, (4) Medical & Dental, (5) Utilities, (6) Taxes, (7) Entertainment & other luxuries, (8) Miscellaneous8 Components of family budgeting
FoodExpense item that is top priority in household budget
FoodAll other expenses can be postponed but family should always have this
HousingExpenses for this could be through rent or amortization
Rentis the payment for the use of a house owned by someone else
Amortizationis the payment for the loan taken from bank or financing institution
Educationexpenses for this include tuition, allowance, textbooks, etc
Medical/Dentalexpenses of this include consultation with doctors, medicines, vitamins and hospitalization
Medical/DentalFamily uses its savings for this
UtilitiesExpenses that cover payment for water, electricity and telephone
UtilitiesDelayed payments for this would mean disconnection of service
Taxesare paid annually for real estate and for income earned during past year
TaxesThese system facilitates the government's collection of ________ and make it easier for employees to pay their dues
Entertainment & other LuxuriesInclude family celebrations, etc
MiscellaneousExpenses that are unscheduled but at times necessary
SavingsMoney set aside for future use or emergencies

Lesson 5

Question Answer
Maslow's Hierarchy of NeedsA theory in psychology proposed by Abraham Maslow in his 1993 paper "Theory of Human Motivation"
Physiological NeedsPhysical requirements for human survival
Physiological NeedsAir, water, food, clothing, shelter
Safety NeedsWith their physical needs, relatively satisfied, the individuals _________ ______ take precedence and dominate behavior
Safety NeedsPersonal security, Financial security, Health & Well being, safety net against incidents/illnesses
Love and BelongingHuman needs is interpersonal & involves feelings of _________
Love and BelongingFriends intimacy, Family & Other people
IntrapersonalWithin yourself
InterpersonalHow you relate with others
Self esteemAll humans have a need to feel respected
Self esteemIncludes the need to have ___________
Lower esteem & Higher esteem2 types of self esteem
Self actualizationRefers to what a person's full potential is and realization of that potential
Self actualizationWhat a man, can be, he must be
Self actualizationThe person must not only achieve the previous needs but master them
Motivationfactors that stimulate desired energy in people to be continually interested and committed to a task, role or subject or to make an effort to finish the task
(1) Extrinsic & (2) Intrinsic2 kinds of motivation
Extrinsic motivationrewards, punishments or pleasing others
Intrinsic motivationEnjoyment, self selection, personal interest
Motivation (definition in Managementis the process through which managers build their desire to be productive & effective in their employees

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