Lesson 3 1. what is financial responsibility? 2. give at least two examples of utilities. 3. what are features? 4. what are benefits? 5. what is a budget?

The answers are:

1) Financial responsibility refers to the process of managing money (or other assets) in a productive way in the best interest of the individual or business.

2) Two examples of utilities are electric companies and natural gas companies.

3) Features refer to the characteristics of certain goods, services, assets, etc.

4) Benefits are something that provides an advantage for someone. Financial benefits refers to material benefits including, money, stock, securities, licenses, contracts, etc.

5) A budget is the estimated income and expenses over a specific period of time.