Ch 30: ORELA Business Education: Consumer Economics & Personal Finance

About This Chapter

Feel confident in your ability to succeed on the ORELA Business Education assessment by refreshing your knowledge of consumer economics and personal finance. Explore short video lessons, then gauge your comprehension with short quizzes.

ORELA Business Education: Consumer Economics & Personal Finance - Chapter Summary

This detailed overview of consumer economics and personal finance is designed to help you answer related questions on the ORELA Business Education assessment. Upon completion of this chapter, you will be ready to:

  • Define and describe consumer income and cost of living
  • Provide details about household budgets and personal financial management
  • Understand insurance policies, risk management and investment opportunities in stocks and bonds
  • Describe the Roth IRA, as well as retirement and pension plans
  • Identify types of consumer credit and consequences of defaulting
  • Discuss the law and types of personal bankruptcy
  • Explain the purpose and types of personal taxes

You have access to quality instructors who readily share their wealth of knowledge in business education to prepare you for the exam. If you have specific questions about consumer economics and personal finance lesson topics, our experts are ready to offer assistance.

ORELA Business Education: Consumer Economics & Personal Finance Chapter Objectives

In Oregon, educators must take the ORELA Business Education assessment to obtain the licensure needed to teach this subject area in classrooms. The computer-based test consists of 150 multiple-choice questions and explores subject areas that included management, marketing, communications, accounting and economics. Topics in this chapter are found in the accounting, personal financial management and quantitative analysis content domain, which constitutes about 19% of the test.

Ensure you're ready to answer questions in this content domain by reviewing the lessons in this chapter. Get reacquainted with consumer economics and personal finance then test your readiness to tackle this subject area by taking short quizzes and a chapter exam. Doing so increases your chances of earning a minimum passing score of 234 on the exam.

10 Lessons in Chapter 30: ORELA Business Education: Consumer Economics & Personal Finance
Test your knowledge with a 30-question chapter practice test
Consumer Income: Definition & Statistics

1. Consumer Income: Definition & Statistics

Consumer income is crucial for the functioning of our consumer-based economy. In this lesson, you'll learn what consumer income is, examine some related concepts, and see some relevant statistics.

What is Cost of Living? - Expenses & Overview

2. What is Cost of Living? - Expenses & Overview

Most everyone would like a COLA, and we're not talking about soft drinks. In this lesson, you'll learn what cost of living is and some of its key concepts. You'll also have a chance to take a short quiz.

Household Budgets & Personal Financial Management

3. Household Budgets & Personal Financial Management

In this lesson, we'll explain and define the components of a budget: income, expenses, and discretionary income. You'll also learn how to categorize income and expenses as fixed or variable.

Understanding Insurance Policies and Risk Management

4. Understanding Insurance Policies and Risk Management

Obtaining insurance is one of the most common methods of risk management. In this lesson, you'll learn about insurance policies and some key concepts related to insurance. You'll also have a chance to take a short quiz.

Investment Opportunities in Stocks and Bonds

5. Investment Opportunities in Stocks and Bonds

Investors often turn to the stock and bond markets when investing their money. Each market offers opportunities and risks for the individual investor. In this lesson, we'll explore the nature of these investments.

What Is a Roth IRA? - Definition, Rules & Benefits

6. What Is a Roth IRA? - Definition, Rules & Benefits

Explore the concept of a Roth IRA - an account that can potentially lead to tax-free growth. This lesson will define a Roth IRA and explain the associated rules and benefits.

Understanding Retirement and Pension Plans

7. Understanding Retirement and Pension Plans

Businesses use many different types of retirement plans for their employees. Two of the most common are pension plans and 401(k) plans. This lesson discusses these two kinds of retirement plans.

Consumer Credit: Types & Differences

8. Consumer Credit: Types & Differences

In this lesson, we'll discuss creditworthiness and different types of consumer credit: installment, non-installment, and revolving credit. You'll also learn about repayment requirements for each and if there's a cost to borrowing the money.

Personal Bankruptcy: Law & Types

9. Personal Bankruptcy: Law & Types

There are several different types of bankruptcy, but only two are designed for individuals. This lesson explains these two types: Chapter 7 and Chapter 13 bankruptcy.

Purpose & Types of Personal Taxes

10. Purpose & Types of Personal Taxes

In this lesson, you'll learn about five types of personal taxes: sales, payroll, income, capital gains, and property tax. We'll discuss the uses of each tax and provide examples.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the ORELA Business Education: Practice & Study Guide course

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