You Need to Review Your Progress and Reevaluate and Revise

question 41

Multiple Choice

You need to review your progress and reevaluate and revise your plan (Step 5) because

• A)your financial needs change over the course of your life.
• B)your employment situation changes over time.
• C)your net worth changes over time.
• D)your family situation might change over time.
• E)all of the above are good reasons to periodically review your financial plan.

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Definitions:

Market Price

The current price at which a good or service can be bought or sold in a marketplace, determined by the forces of supply and demand.

Economic Profits

Profits calculated by subtracting both explicit (direct payments) and implicit (opportunity) costs from total revenues.

Market Price

The ongoing selling or buying rate for an asset or service in a certain market.

Satisfier Factors

Elements related to the nature of the job itself, such as achievement, recognition, and work itself, that lead to job satisfaction.