Answer:
B. a medium of exchange, a store of value, and a factor of production
Explanation:
Money is a medium of exchange because it is used in paying for goods and services and it is a store of value because it can be reliably saved, retrieved and used and it is liquid capital which is factor of production.
The theory of motivation that describes Leo is the arousal theory. It is the theory where in it makes a person act or performance to improve when the person has an increase arousal. It could be seen above as Leo has an increase arousal in doodling that makes him want to draw more and think of what to doodle next because this made his performance to improve or increase.
As a general rule of thumb the standard of living and definition of poverty is much nicer in developed as opposed to developing countries
Answer:
Non compensatory decision
Explanation:
A decision is non compensatory when good performance on one criterion does not offset from poor performance on another evaluative criterion.
In other words, the consumer only focuses in one criterion to make his/her decision (because that criterion is important to him/her) and it doesn't matter how the product compares to other in other criterions (it can happen that based on another criterion, the product is not as good as another one but the client doesn't care since the attention is focused on just one place)
In this example, Chen Lo buys only well-know golf clubs brand names, and he guides his decisions based on this rule which <u>only cares about one criterion (how well-known a brand is)</u>, the golf clubs he uses might be more expensive or others might have discounts <u>(other criterions such as price and discounts) but he doesn't even look at these because his attention is focused on only the name of the brand. </u>
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Thus, he is using a non compensatory decision.