Answer: Friedrich Hayek’s work The Road to Serfdom argued that centralized Economic Planning ultimately threatened liberty. Conservatives used this book to justify a reduced role for the state in the economy, by equating fascism and socialism with the New Deal.
Explanation: Frederick Hayek in his book <em>The Road to Serfdom</em>, published in 1944, criticized government involvement in the market seeing it as a system that leads to loss of individual freedom.
Centralized Economic planning is key to socialism as a method to ensure equality, but Hayek argued that central planning forces the will of a few people on the public. This is not socialism but dictatorship.
Conservatives, who favored a reduced government role in economic planning quoted this book and equated the New deal with fascism. The New Deal was a program designed by President Franklin D. Roosevelt to revive the economy after the Great Depression.
The Five Steps for Cost Benefit Analysis include:
1. Specify the possible options for action
2. List all possible outcomes
3. Determine probability of each outcome
4. Assign a value to each outcome
5. The sum of the values times probabilities for each option is the expected value of that option.
Production, implementation, and failure are all costs involved in making a decision.
Speedy results, saving energy, saving time and/or money, sense of achievement, raising of morale and/or confidence are all benefits involved in making a successful decision.
Select a topic
(Is that one I looked it up and that’s what it said)
Answer:Mental age
Explanation:
According to the theory created by Binet and Simon ,intelligence was measured through test.They worked upon age related intellectual ability of children through testing it by creating particular intelligence baseline.
They focus their first step towards children with special requirement for assessing their mental age in respect with chronological age through test to know their performance. This test helped to know about children's mind and support them for their need as per mental requirements.
