Part 3: Short Answer Instructions
Answer each of the questions below in the space provided.
11. How do you construct a balance sheet or net worth statement?
12.Explain in one to two sentences how paying yourself first (PYF) early and often influences positive progress toward long-term financial goals
13. How can you apply consumer skills to purchase decisions?

Total marketing effort is a term used to describe the critical decision factors that affect demand: price, advertising, distribution, and product quality. define the variable x to represent total marketing effort. a typical model that is used to predict demand as a function of total marketing effort is based on the power function: d = axb suppose that a is a positive number. different model forms result from varying the constant b. sketch the graphs of this model for b = 0, b = 1, 0< b< 1, b< 0, and b> 1. (we encourage you to use excel to do this.) what does each model tell you about the relationship between demand and marketing effort? what assumptions are implied? are they reasonable? how would you go about selecting the appropriate model?