____ Comprises the Arrangements You Make During Your Lifetime for the Administration

question 5

Multiple Choice

____ comprises the arrangements you make during your lifetime for the administration and transfer of your worldly possessions and assets after your death.

• A)Probate court
• B)A will
• C)Estate planning
• D)A codicil

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Definitions:

Price

The amount of money required to purchase a good or service.

Positive Externality

A benefit that is enjoyed by a third-party as a result of an economic transaction, without them necessarily being involved in the transaction.

Marginal Social Benefit

Sum of the marginal private benefit plus the marginal external benefit.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded.