24 October 2022 | Part 3 | The value of things 💎| without pauses

(Note: In Part 2 of this exam, the candidate speaks about a free carwash they received.)

Would you recommend this item or service to others?

They did a fine job on the car, so yes, I would recommend it. Those of us who live in the city don't typically have the space to wash our cars ourselves, so we must get this done professionally.

Do people value free things less than items that are purchased?

Typically yes. Usually free items are something of a gimmick, a way to pull you in to earn your loyalty and convince you to buy more. They are very rarely of high value – if they were you would have to pay for them! People know that it is part of a ploy and don't always appreciate the free item.

Is there anything more valuable than money?

Absolutely. Obviously things like health, family and loved ones are more valuable but I would also say time is more valuable. This is particularly true for people who happen to have a lot of money. They are happy to spend more for something if it means it will save them time.

Do you think money can change a person's values?

I think the example I just shared is a good illustration of how money can change a person's values. When you don't have money, you will spend time to save money. On the flipside, when you have money you will spend it to save time. Having money – or not – will change what you place a premium on.