ECONOMICS
SCARCITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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buying things you need and want
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putting away money in a bank to use later
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Either A or B
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None of the above
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Detailed explanation-1: -Your money will be protected from theft and fires. Plus, your money will be federally insured so if your bank or credit union closes, you will get your money back. The maximum amount of money that can be insured is $100, 000. Many banks offer an interest rate when you put your money in a savings account.
Detailed explanation-2: -A savings account is an interest-bearing deposit account held at a bank or other financial institution.
Detailed explanation-3: -When to invest money. If you don’t need the money for at least five years (or longer) and you’re comfortable taking some risk, investing the funds will likely yield higher returns than saving. If you’re eligible for an employer-match in your retirement account such as a 401(k).
Detailed explanation-4: -Eliminate Your Debt. Set Savings Goals. Pay Yourself First. Stop Smoking. Take a “Staycation” Spend to Save. Utility Savings. Pack Your Lunch. More items