Steve Black Has Two Children

question 65

Multiple Choice

Steve Black has two children.He is buying each of them their own TV to put in their rooms so they do not have to join the rest of the family and watch TV together.Which one of the following best explains Gary's spending,which can lead to overindebtedness?

• A)Misunderstanding or lack of communication
• B)The use of money to punish
• C)The expectation of instant comfort
• D)Keeping up with the Joneses
• E)Overindulgence of children

---

Definitions:

Restrictive Covenants

Clauses in contracts that restrict or limit actions of the parties involved, often used in real estate and employment agreements.

Lead Entrepreneur

The primary individual responsible for starting a new business or venture, often driving the vision and strategy forward.

Time-Sales Financing

A financing method where payments are made in installments over a predetermined time period.

Prepayment Penalties

Fees charged to borrowers for paying off a loan early, as compensation for the lender's lost interest income.