You Can Determine Your Net Worth By

question 106

Multiple Choice

You can determine your net worth by:

• A)subtracting your assets from your liabilities.
• B)subtracting the value of your home from the mortgage balance.
• C)adding your liabilities and assets.
• D)subtracting your liabilities from your assets.
• E)adding the value of your home to that of your other assets.

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Definitions:

Marginal Benefit

The further utility or pleasure gained from consuming one additional unit of a good or service.

Creative Destruction

A concept in economics introduced by Joseph Schumpeter, describing the process by which old industries or technologies are destroyed and replaced by new ones.

"Destroyed" Industries

Refers to industries that have significantly declined or been rendered obsolete due to technological advancements, market shifts, or regulatory changes.

"Created" Industries

Sectors or markets that have emerged as a result of innovation, technological advances, or governmental policy.