Answer:
1. Trade off
2. Opportunity cost
3. Cost-benefit analysis
4. Diminishing marginal utility
Explanation:
1. Giving up one benefit or advantage to gain another regarded as more favorable is called trade-off. Every economic decision involves some trade-off.
2. Opportunity cost is the second-best alternative or value of the alternative, that must be given up when making a choice. Because of scarce resources with alternative uses allocation of resources involves some opportunity cost.
3. Cost-benefit analysis can be defined as the process of examining the benefits and costs of each available alternative in arriving at a decision. Resources are allocated efficiently if the cost incurred and benefit earned is equal.
4. As we go on increasing the quantity consumed of a product, the marginal utility or satisfaction earned from its consumption goes on decreasing. This is called diminishing marginal utility.
Answer:
$62,267.91
Explanation:
first we must calculate the interest rate = 10% + 6% + (10% x 6%) = 16.6%
now we can use the present value formula:
present value = future value / (1 + rate)ⁿ
present values for:
- cash flow year 0 = $17,100
- cash flow year 3 = $46,500/1.166³ = $29,333.06
- cash flow year 4 = $12,300/1.166⁴ = $6,654.43
- cash flow year 7 = $26,900/1.166⁷ = $9,180.42
total present value = $62,267.91
People are often motivated to achieved anything. In the United States, personal success and professional achievement are important motivators is a true statement.
- The universalist assumption is based on the fact that the motivation process is universal and that all people are motivated to run after goals that they value.
Culture often affects specific content and goals, the specific nature of motivation is different in all cultures. in China, group affiliation; goal, social harmony are motivations for pursuing goals.
Learn more from
brainly.com/question/13132465
Explanation:
Being a son, Steve should obey his parents and stay at home to babysit his six year old brother, because it is always the duty of children to give respect to their parents' decisions. Though he was super excited about the football match in which his school team was going to play against the long term rivals, but because his parents' friends had a call for meeting them after so long, they asked him to stay at home as he could have many more chances of seeing such matches.
But being a parent, I should respect my son's program of watching the football match, and take the baby with me, so that the program of both son and parents would not be disturbed.