Answer:
Prospect theory
Explanation:
Prospect theory: In psychology, the term "prospect theory" is determined as one of the behavioral models that significantly displays the process through an individual decides or analyze between different alternatives that evolve high uncertainty and risk, for example, the loss of gain percent in anything.
The prospect theory explains that different individuals believe by analyzing the "expected utility" as compared to any "reference point" instead of any "absolute outcome".
In the question above, the given statement signifies the "prospect theory".
Answer:
True
Explanation:
What a great man!. Milton Friedman was born on the 31st of July, the year 1912 in Brooklyn, United States of America. Milton Friedman won a Nobel Prize in Economics in the year 1976. He was a great statistician as well as an economist during his lifetime. Milton Friedman taught in the University of Chicago. Milton proposed many free market economic theories.
Milton Friedman is against occupational licensing requirements, so the state would not be in the business of licensing barbers, surgeons or lawyers.
Milton Friedman died on the 16th of November, 2006.
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A slow change such as continents moving will create differences in ecosystems. This is also the same effect caused by a rapid change such a meteorite striking earth. These two phenomena will create diversity and different living conditions. The slow change however, will give organisms time to adopt giving them a good chance of survival unlike a rapid change which will give most, if not all, organisms little chance to survive.
