Answer:
Resources are scarce and All costs are opportunity costs.
Explanation:
The scarce resource in this case is time. Because resources are scarce, then people have to take choices strategically. If time was infinite, then Raphael would dedicate more time to train.
The sentence could also illustrate that all costs are opportunity costs. The cost of doing something else, is not training. For example, the cost of the time that he dedicates to study, is the time that he could spent training. But here we are also talking about time, then it could be option A or option B, but for me, A and B are correct.
Because resources are scarce, all of what we decide to do have an opportunity cost.
The tool that is most commonly used is the TIME VALUE ANALYSIS. The method is used to value future cash flow. Investors use this method to analyze how much a certain amount of loan will be worth in the future in order to put appropriate interest rate on the loan.
Answer:
regression theory
Explanation:
According to the <u>regression theory</u> of Alderfer’s ERG theory, an already-satisfied lower-level need can become reactivated when a higher-level need cannot be satisfied.
Alderfer proposed a regression theory to go along with the ERG theory, where he propounded that <u>when needs in a higher category are not met then individuals redouble the efforts invested in a lower category need.</u>
For example if self-actualization or self-esteem needs in the Maslow's hierarchy of needs are not met then individuals will invest more effort in the physiological and safety category in the hopes of achieving the higher need.
Prices play a huge role in the free market because they are used to appropriately place goods within the economy. They are used to determine what price point objects should be where and what market will have the established value and pay the price of the good. Price helps serve as a value measurement in a free market.