Marginal beneficit and marginal cost are economic concepts. On the one hand, the marginal beneficit is defined as the added satisfaction a consumer gets from an additional unit of a good or service. On the other hand, the marginal cost is the change in total cost that results from making or producing one additional item.
The consumer could use these measurements to consider whether the cost is higher than the benefit when purchasing an item or getting a new service. Do they really need to buy an extra t-shirt when they already have enough of them? The benefit would be that they would get another t-shirt. In addition, as this is a new piece of clothing, it would probably be more in fashion than the old ones. However, the consumer would have to spend an amount of money that perhaps he had saved for another purpose and consequently would lack money for it. If he decided not to buy the t- shirt, he would have said amount of money to pay for his taxes or services. The same applies when it comes to the extra smoothie. The amount of money spent on the smoothie could be used to get something else and, by getting an extra one, you would feel fuller and perhaps would not eat a proper meal afterwards. You could also gain weight if the smoothie is not healthy, so in the end the cost is higher than the benefit.
Therefore, you could easily apply economic concepts, such as the ones described, in your everyday life so as to make decisions that leave you better off. By considering the cost associated with an extra purchase, you could start saving up money. Eventually, you could spend your savings to get a greater benefit. For instance, you could go on vacation without spending your salary and still comply with the payment of your taxes and services.
Answer:
Three components of active managerial control include identifying risks, creating specifications, and training.
Explanation:
Not sure if he called it a "holy experiment and that all I know is that Pennsylvania means "Penn's Woods".
Answer:
The scientific revolution, which emphasized systematic experimentation as the most valid research method, resulted in developments in mathematics, physics, astronomy, biology, and chemistry. These developments transformed the views of society about nature.
Answer:Kayla was experiencing peer pressure
Explanation:
It is hard to make a decision but it get even worse when others influence our decision making process because it may be confusing if we should take what they suggest or continue following our own guts.
When someone of your own age group influences how you make a decision this is referred to as peer pressure.
Kayla wanted to go and see the movies but Sue suggested she was staying home and studying which in return put pressure on Kayla to also stay at home and study because she now probably feel her decision to go out to the movies is a bad idea so Sue has influenced Kayla decision making process.
