Revising a Financial Plan

question 56

Multiple Choice

Revising a financial plan

• A)should only be done in extreme circumstances.
• B)may include changing your goals.
• C)does not have to be done when you have more cash flow than needed.
• D)is not necessary once you retire.

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Definitions:

Demand Decreased

A situation where the desire or need for a certain product or service declines, leading to a decrease in its quantity demanded at a given price.

Quantity Supplied

The total amount of a specific good or service that producers are willing and able to sell at a given price within a specified period.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a particular price.

Equilibrium

A state where supply equals demand in a market, resulting in no inherent force for price change.