Unlike a "Service, " a "Good

question 14

Multiple Choice

Unlike a "service, " a "good"

• A)is desirable
• B)uses resources to satisfy wants
• C)is physical and tangible
• D)is abundant and free
• E)is a resource

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Definitions:

Defined Contribution Plans

Retirement plans where the amount contributed to the plan is defined, but the payout at retirement is based on investment performance.

Defined Benefit Plan

A type of pension plan where an employer guarantees a specific retirement benefit amount to employees based on salary history and years of service.

401(k) Plan

A retirement savings plan sponsored by an employer which allows employees to save and invest a portion of their paycheck before taxes are taken out.

Downside Risks

Potential negative outcomes or losses that may occur as a result of an investment or decision.