Career Prep Semester Exam 2024

Which of the following best describes instant gratification?

• The ability to wait for a more rewarding outcome

• A strong preference for immediate rewards over delayed ones

• The understanding that waiting can lead to better results

• The habit of saving for future needs

Which of the following is an example of delayed gratification?

• Eating dessert before finishing your vegetables

• Buying a new phone immediately after it is released

• Waiting to buy a car until you have saved enough money

• Skipping study time to play video games

Why might someone prefer instant gratification over delayed gratification?

• They are focused on long-term goals

• They are disciplined and patient

• They find it difficult to resist immediate temptations

• They understand the value of waiting

Which statement is true about the difference between instant and delayed gratification?

• Instant gratification leads to long-term success, while delayed gratification provides short-term pleasure.

• Delayed gratification often requires more self-control and discipline than instant gratification.

• Instant gratification always leads to negative outcomes.

• Delayed gratification is only beneficial in financial situations.

What is the first step in the decision-making process?

• Identify alternatives

• Define the problem

• Make a decision

• Evaluate the outcome

A "trade-off" occurs when:

• You gain something without losing anything

• You give up one thing to gain another

• You avoid making a decision

• You make a decision without considering alternatives

What is "opportunity cost"?

• The money saved during a decision

• The value of the next best alternative not chosen

• The cost of implementing a decision

• The risk of making a wrong decision

Which term best describes choosing the benefit of one option over another?

• Trade-off

• Instant gratification

• Delayed gratification

• Risk assessment

Delaying a purchase to save money for a better product later is an example of:

• Instant gratification

• Delayed gratification

• Trade-off

• Impulse buying

A person who often chooses instant gratification is likely to:

• Make well-considered decisions

• Experience long-term satisfaction

• Seek immediate rewards even if they are not the best option

• Avoid making decisions