tom has five goals:\n1) he would like to buy a $20,000 car.\n2) he wants to attend and graduate from college…

tom has five goals:\n1) he would like to buy a $20,000 car.\n2) he wants to attend and graduate from college but does not know his major or target college.\n3) although he thinks his parents are great, tom wants to have a better standard of living than his parents and friends.\n4) tom would like to be married, have children, and have the income to save to be financially independent.\n5) he wants to be a leader and try to change the world.\nhis parents have saved $20,000 for him to buy a car or pay for college tuition.\ntom decides to use the $20,000 for college and not borrow money for college.\nthis case - study is an example of which two planning concepts from toms perspective.\n\nsmart goals\nopportunity cost of spending\nshort and long - term goals\nopportunity costs of saving\na personal life plan

tom has five goals:\n1) he would like to buy a $20,000 car.\n2) he wants to attend and graduate from college but does not know his major or target college.\n3) although he thinks his parents are great, tom wants to have a better standard of living than his parents and friends.\n4) tom would like to be married, have children, and have the income to save to be financially independent.\n5) he wants to be a leader and try to change the world.\nhis parents have saved $20,000 for him to buy a car or pay for college tuition.\ntom decides to use the $20,000 for college and not borrow money for college.\nthis case - study is an example of which two planning concepts from toms perspective.\n\nsmart goals\nopportunity cost of spending\nshort and long - term goals\nopportunity costs of saving\na personal life plan

Answer

Brief Explanations:

Tom has various goals like buying a car, graduating college, getting married etc. which can be categorized as short - and long - term goals. Also, when he decides to use the $20,000 for college instead of a car, he is incurring an opportunity cost of spending (the car he could have bought). These two concepts are relevant here.

Answer:

B. Opportunity cost of spending, C. Short and long - term goals