posted by .

If someone said "My personal economic theory is live below my means..." what does this mean and what implications does this have for that person's economic future?

  • Economics -

    That means that the person doesn't go into debt, but saves money. In the future, he'll have his savings to live on or for special purchases.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Economics

    Evaluate the following statement: "It is easier to build an economic model that accurately reflects events that have already occured than to build an economic model to forecast future events. "Do you think that this is true or not?
  2. Economics

    The role of an assumption in an economic theory is to: a. add realism b. prove the theory c. cover special cases d. simplify the theory
  3. Economics

    21. How do fears of future economic problems affect GDP?
  4. Economics

    Unable to find any info to answer my question I recently posted about.. role of economic theory in the way economics are run today & no clue found as to concrete examples of same...went through all your sites you suggested and looked …
  5. History

    Can someone give me a few examples of economic factors/conditions determining foreign policy decisions. The one example I have so far is the economic crash in 2008 triggering a outcry for economic relief. People no longer cared about …
  6. Economics

    If the market price falls below $4.50, the firm will earn A. positive economic profits in the short run. B. negative economic profits in the short run but remain in business. C. negative economic profits in the short run and shut down. …
  7. Economics

    -> In some countries, the role of women is not regarded in the same way as a man. How might this effect production in the country and the consequent effect on standard of living?

    For the following questions, you are provided with two statements. Choose the two economic goals THAT ARE MOST IN CONFLICT when considering the difference between the two statements. 1) In a market system, a person is entitled to earn …
  9. Economics

    Working where we want to is an example of which economic goal?
  10. World history answer CHECK

    stars*** by my answer 1. President Ronald Reagan's economic theory which assumed if taxes were reduced, people will work more having more spending money, and the economy would grow was called "Reaganomics." Identify the economic theory …

More Similar Questions