Communication
This communication skill involves fully focusing on a speaker, rather than thinking about your response while they talk.
What is active listening?
An entrepreneur is someone who identifies opportunities and is willing to take this in order to pursue them.
What is risk?
This economic concept refers to what you give up when you make a decision.
What is opportunity cost?
This is a plan for how you will spend and manage your money over a period of time.
What is a budget?
This mindset is based on the belief that abilities and intelligence can be developed over time.
What is a growth mindset?
This type of communication includes body language, facial expressions, and tone of voice.
What is nonverbal communication?
This field focuses on tracking, organizing, and interpreting financial information to support decision-making.
What is accounting?
A ski resort raises lift ticket prices during peak season when demand is high. This reflects this economic concept.
What is supply and demand?
A person consistently pays their bills late, which negatively impacts this part of their financial profile.
What is their credit score?
These are the beliefs or principles that guide your decisions and behavior.
What are core values?
A student fills slides with text so they don’t forget what to say. This suggests the slides are being used as this instead of supporting the presentation.
What is a script (or notes/crutch)?
This term refers to the specific combination of benefits that makes a customer choose one business over another.
What is a value proposition?
When prices across the economy rise over time, reducing purchasing power, this is known as this.
What is inflation?
Someone only makes the minimum payment on a credit card balance. Over time, they will pay significantly more due to this.
What is interest (or compounding interest)?
A habit is more likely to stick when it becomes part of how someone sees themselves, not just something they try to do. This reflects a shift in this.
What is identity (or identity-based habits)?
During a team conflict, one person focuses on understanding others’ perspectives and emotions before offering solutions. This reflects strength in this EQ component.
What is empathy (or social awareness)?
A business increases sales significantly but still becomes less profitable. This indicates that this is increasing faster than revenue.
What are costs (or expenses)?
A person continues paying for a gym membership they don’t use because they’ve already spent money on it. This is an example of this bias.
What is the sunk cost fallacy?
This type of investment involves lending money to a government or company in exchange for regular interest payments and lower risk than stocks.
What are bonds?
Someone achieves external success but feels unfulfilled because their work is not aligned with what matters most to them. This reflects misalignment with this concept.
What is personal mission or purpose?
A person notices they are becoming frustrated in a conversation and chooses to pause before responding. This demonstrates this emotional intelligence skill.
What is self-regulation?
Two cafés operate in the same market, but one consistently outperforms the other over time due to lower costs or greater perceived value. This indicates a stronger this.
What is competitive advantage?
A person plans to save money but repeatedly chooses to spend it because the immediate reward feels better than the long-term benefit. This reflects this behavioral tendency.
What is present bias (or preference for immediate rewards)?
This type of investment pools money from many investors to buy a diversified portfolio of assets, reducing individual risk.
What is a mutual fund (or index fund)?
A student feels neither fully burned out nor fully engaged, just kind of “stuck” or unmotivated. This state is referred to as this.
What is languishing?