Asked by McKenzie Copher on Jun 11, 2024
Verified
To build up our capital we need to
A) save more and consume more.
B) save more and consume less.
C) save less and consume less.
D) save less and consume more.
Capital
Economic resources used in the production of goods and services, such as machinery, equipment, and buildings.
Consume Less
The action of reducing the amount of goods and services that individuals or societies use.
- Absorb the core concepts and theories within economics associated with savings and investment practices.
Verified Answer
MH
Markela HudsonJun 13, 2024
Final Answer :
B
Explanation :
To build up our capital, it is important to save more and consume less. This means that we need to prioritize saving a portion of our income and reducing our expenses to have more money available for investment and building our capital. Consuming more and saving less can lead to a situation where we are unable to invest and grow our capital, while consuming less and saving more allows us to build up our capital over time.
Learning Objectives
- Absorb the core concepts and theories within economics associated with savings and investment practices.