The First Step in Getting Control of Your Finances Is

question 126

True/False

The first step in getting control of your finances is to prepare a budget.

---

Definitions:

Rival in Consumption

A good or service is considered a rival in consumption if its use by one individual diminishes the availability or quality for others.

Whales

Large aquatic mammals known for their size, intelligence, and complex social structures, belonging to the order Cetacea.

Types of Goods

Classification of goods based on characteristics such as excludability, rivalry in consumption, and the nature of the product (e.g., public goods, private goods, club goods).

Free-Ride

To benefit from a resource, good, or service without providing fair compensation or contribution.