With Respect to Personal Financial Planning, the First Thing to Do

question 135

True/False

With respect to personal financial planning, the first thing to do with any extra money you have is to start a savings plan.

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Definitions:

Export

The process of sending goods or services from one country to another country for sale or trade.

Oranges

A citrus fruit known for its round shape and bright orange skin, commonly processed for juice or eaten fresh.

Comparative Advantage

The skill of an entity—be it an individual, a company, or a country—to deliver a good or service more efficiently, incurring lower opportunity costs, than competing parties.

Absolute Advantage

The ability of an individual, company, or country to produce a good or service at a lower cost per unit than the competition.