Spending Money on a Fixed Budget Is an Example of

question 161

Multiple Choice

Spending money on a fixed budget is an example of

• A) the principle of opportunity cost.
• B) how to survive with unlimited financial resources.
• C) a bad thing to do because you run out of money.
• D) living on the edge.

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Definitions:

Following

The act of adhering to or being guided by the instructions, leadership, or direction provided by someone else.

Achievement-Oriented Leadership

Emphasizes setting goals, stressing excellence, and showing confidence in people’s ability to achieve high standards of performance.

Milton Friedman

Milton Friedman was an influential American economist known for his work on monetary policy, market capitalism, and the advocacy of free markets.

Sole Purpose

The single, main objective or aim for which something is designed or exists.