Which Item Is Not One of the Components of a Personal

question 52

Multiple Choice

Which item is not one of the components of a personal financial plan?

• A) Setting aside money for season tickets to your favorite football team is an example of
• B) Investing your money
• C) Planning your retirement
• D) Budgeting

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Definitions:

Average Total Cost

The total cost of production divided by the number of units produced, giving a per unit cost of production.

Output

The total amount of goods or services produced by a person, machine, or company.

Producing Units

Entities, such as factories or workshops, involved in the manufacture of goods or the provision of services.

Efficient Scale

The level of production at which a firm's average costs are minimized, and efficiency is maximized.