Even Average Earners Can Accumulate Wealth by

question 20

Multiple Choice

Even average earners can accumulate wealth by

• A)spending less than they make.
• B)saving more than they make.
• C)borrowing to buy what they want.
• D)winning the lottery.

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Definitions:

Incentives

Factors, usually financial or material rewards, that motivate individuals or firms to act in a certain way.

OPEC

The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization of oil-producing countries that coordinates and unifies the petroleum policies of its member states.

Efficient Allocation

The distribution of resources in a way that maximizes the net benefit to society or achieves a desired outcome effectively.

Equitable Allocation

The fair and just distribution of resources among different groups or individuals.