Principles of Financial Planning

Question 1

In this scenario, Frankie must consider whether making one choice will force him to give up another.Based on what you have read, which economic concept is Frankie faced with?

Revolt · Accepted Answer

opportunity cost

Question 2

Use what you have learned about wants and needs to complete these statements.

Revolt · Accepted Answer

Frankie already has a pair of basketball shoes that he can wear for the tryout, which makes the new pair a.: want; If Frankie did not have a pair of basketball shoes for the tryout, the new shoes would be considered a.: need

Question 3

want✔ need

Revolt · Accepted Answer

✔ need

Question 4

Use what you have learned about wants and needs to complete these statements.

Revolt · Accepted Answer

✔ want; Frankie already has a pair of basketball shoes that he can wear for the tryout, which makes the new pair a.: want; If Frankie did not have a pair of basketball shoes for the tryout, the new shoes would be considered a.: need

Principles of Financial Planning Answers

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