Chapters 1-3

Question 1

Cost benefit analysis

Answer 1

A method to evaluate a situation in advance by comparing the expected costs with the expected positive results

Question 2

Wants

Answer 2

Goods and services that an individual would like to obtain

Ex) an upgraded computer, sports training

Question 3

Job analysis

Answer 3

An evaluation of the positive and negative attributes of a given type of work

Question 4

Salary

Answer 4

The amount of monthly or annual pay that you earn for your labor

Question 5

Benefits

Answer 5

Company-provided supplements to salaries, such as sick pay, vacation time, and health insurance

Question 6

Promotion

Answer 6

The ability to advance, accept more responsibilities, and work your way up a company

Question 7

Entrepreneur

Answer 7

One who organizes, manages, and assumes the risks of a business or enterprise.

Question 8

Why take classes after you have a job?

Answer 8

To embrace the rapid change of technology and keep yourself up to date

Question 9

Networking

Answer 9

Interacting with groups of people with common interests who interact for mutual assistance. Helps you get a job and opportunities

Question 10

Values

Answer 10

The ideals in life that are important to you

Question 11

Aptitude

Answer 11

A natural physical or mental ability that allows you to do certain tasks well

Question 12

Interests

Answer 12

The things you like to do

Question 13

Goal characteristics

Answer 13

Specific, measurable, attainable, relevant, and time bound

Question 14

Short term goal

Answer 14

One you expect to reach in a few days or weeks

Question 15

Intermediate goal

Answer 15

Wish to accomplish in next few months or years

Question 16

Long term goal

Answer 16

Wish to achieve in a five to ten year frame or longer

Question 17

Resume

Answer 17

A summary of work experience, education, abilities, interests and other information that may be of interest to an employer

Question 18

Parts of a resume

Answer 18

Personal information, career objective, education, experience, additional qualifications, references

Question 19

Abraham Maslow

Answer 19

Hierarchy of human needs
Esteem
Belongings
Safety
Physiological

Question 20

Frederick herzberg

Answer 20

Motivation-hygiene theory

Determine which factors in an employees work environment caused satisfaction or dissatisfaction

Question 21

Satisfiers

Answer 21

Achievement
Recognition
Responsibility

Question 22

Dissatisfiers

Answer 22

Salary
Work conditions
Company policy

Question 23

Before the interview

Answer 23

Research the organization
Prepare questions to ask
Prepare proper dress and grooming

Question 24

During the interview

Answer 24

Answer questions completely and calmly

Ask questions to help you better know the organization

Question 25

After the interview

Answer 25

Write notes on how you can improve | Spend thank you letters

Question 26

Common benefits from an employer

Answer 26

Health dental and eye care insurance Paid vacations Life insurance, disability insurance

Question 27

Progressive tax

Answer 27

Effective tax rate increases as the amount to which the rate is applied increases

Question 28

Federal insurance compensation act

Answer 28

The official name for social security and Medicare taxes

Question 29

Social security

Answer 29

Tax rate is 6.2% on gross income, but amount is limited and stop after reach certain income (social security wage base)

Question 30

State and local income taxes

Answer 30

The tax rate ranges from 0% to close to 10% depending on the state and town in which you live

Question 31

Tax free and tax deferred benefits

Answer 31

US government provides plans that allow an employee to save for certain life events with pre tax dollars (retirement, health care, child care, etc)

Question 32

Net pay

Answer 32

Remaining amount you get to keep after all deductions are removed from your gross(total) pay

Question 33

Money

Answer 33

Anything that serves as a medium of exchange, a store of value, and a unit of measure