Final answer:
The savings habits of Ben and Arthur exemplify personal saving preferences, which can vary based on income, personal preferences, and the influence of behavioral economics.
Step-by-step explanation:
The savings habits of Ben and Arthur best illustrate the principle of saving preferences. Personal saving habits vary based on individual preferences, with some people choosing to save a larger percentage of their income while others prefer to consume more in the present. Higher-income households tend to save a larger portion of their income, while lower-income households find it harder to save.
Additionally, behavioral economics provides insights into why people may struggle with saving and offers solutions. For example, automatic-enrollment plans for savings can increase participation rates. The concept of compounding savings is also important, as saving today can make future purchases possible. In summary, the savings habits of Ben and Arthur exemplify personal saving preferences, which can vary based on income, personal preferences, and the influence of behavioral economics.