The correct answer is that social comparison theory by Festinger provides an important rationale for how individuals come to know themselves. This theory first proposed in 1954 states that within every individual there is a drive a force to gain self-evaluation and also find a way to define themselves.
Answer:
B. An increase in knowledge as well as written books
Explanation:
You see an increase in knowledge and written books because as time goes on more books can be written and as more and more are written more people can read them and learn from them. People can also write their own books about something they know, which would spread their knowledge to others that read and add to the amount of written books.
Answer:
C) result in an opportunity cost of 125 sweaters.
Explanation:
In business, opportunity cost is an economic lost that incurred when you choose a certain alternative over another choice.
Initially the company produced 500 Scarves and 225 sweaters.
Since the time and material that company possess are limited, increasing the production of a certain product will most likely reduce the production of another product.
So, when the company choose to produce 125 more sweaters, it will create an opportunity cost that make the company only able to produce 100 scarves.
<u>Answer:</u>
With the idea of the<em> primacy of the consumption over the production. </em>The idea of power of consumption over production was presented by <em>Adam Smith in 1776. </em>
He accepted that the interests of the customers are a higher priority than those of the producers in light of the fact that the sole motivation behind production is consumption. <em>They are interrelated; obviously, one is not possible without the other. </em>
For an entrepreneur to be fruitful, they have to regard and study individual needs because these will figure out what should be produced, and, help the success of the producers. <em>Customers have the ability to choose (power) how the market must work.</em>