Question

9 multiple choice 5 points which of the following is an example of a short - term financial goal? a) saving money for retirement b) buying a new car next month c) saving money for a house d) investing in stocks a b c d 10 multiple choice 5 points what is the consequence of not considering opportunity cost when making decisions? a) no consequence b) wasting time c) missing out on better alternatives d) getting everything you want a b c d

Explanation:

• Question 9: A short - term financial goal is one that can be achieved relatively quickly. Buying a new car next month is a short - term goal as it is within a month. Saving for retirement (usually decades away) and saving for a house (can take years) are long - term. Investing in stocks can be long or short - term, but without a specific short - term time frame like “next month” it is not as clearly short - term as option B.
• Question 10: Opportunity cost is the value of the next best alternative forgone. If not considered, one may choose an option that is not the best available, thus missing out on better alternatives. There is a consequence (so A is wrong), it's not about wasting time (B is wrong), and getting everything you want (D) is not realistic as resources are limited.

Answer:

• Question 9: B. Buying a new car next month
• Question 10: C. Missing out on better alternatives