Assume You Are Still Single and Have No Children,but Your

question 27

Multiple Choice

Assume you are still single and have no children,but your two siblings live with you in your home,you should file as

• A) single.
• B) head of household with two dependents.
• C) single with two dependents.
• D) single filing separately.

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Definitions:

Satisfying Wants

Fulfilling the desires or needs of consumers, often a goal for businesses to meet through the production of goods and services.

Income

A broader term that encompasses money received on a regular basis from work, property, investments, or welfare payments.

Opportunity Costs

The cost of an alternative that must be forgone in order to pursue a certain action; the benefits you could have received by taking an alternative action.

Trade-offs

The concept that in order to gain something, something else must be given up, reflecting the opportunity cost of choices and decisions.