Examlex
List and briefly explain the 4 characteristics of a successful budget.
Total Utility
The overall satisfaction or utility that a consumer derives from consuming a certain quantity of goods or services.
Marginal Utility
The extra pleasure or benefit a consumer receives from using an additional unit of a product or service.
Maximizing Utility
The process by which individuals or consumers adjust their consumption of goods and services to achieve the highest level of satisfaction or utility.
Consumer Surplus
The difference between the maximum amount a person is willing to pay for a good and its current market price.
Q12: Opportunity costs are not only associated with
Q17: Which of these statements is correct about
Q33: An estate tax is imposed on the
Q43: Capital gain distributions are the payments made
Q44: Unless it is indexed, an annuity provides
Q46: A home equity loan is based only
Q49: In a basic will the clause that
Q53: For some debtors, bankruptcy has become an
Q63: Time deposits are more commonly referred to
Q75: The Tax Free Savings Account (TFSA) contribution