CeFS Unit 1 Case Study Questions with Complete Solutions Name typical events during the young adult life cycle stage - Correct Answers ✅Moving away from home, going to uni, start a full-time job, may be unemployed Define paying for needs - Correct Answers ✅Related to items people must have to survive Give examples of needs - Correct Answers ✅Food, drink, place to live Define paying for wants - Correct Answers ✅Optional items that desired but not necessary How must someone prioritise their needs, wants and aspirations? - Correct Answers ✅Their needs must come first and with any spare income, they may consider wants or saving towards aspirations Why might someone's location affect the occurrence of life events? - Correct Answers ✅Due to when they start/finish full-time education (compulsory schooling)/getting permanent job What factors affect someone's income? - Correct Answers ✅Earnings, benefits, pension, family's financial circumstances
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