Maslow's hierarchy of needs is a theory in psychology that argues that the human needs are organized in a hierarchy, having to be fulfilled on a crescent level, a lower level must be completely satisfied and fulfilled before moving onto a higher pursuit.
The five levels are Physiological needs; Safety Needs, Social belonging; Self-Esteem and Self-actualization.
Thus, Self-actualization is the highest level, being summarized in the sentence: "What a man can be, he must be."
The opportunity cost of buying one pair of jeans is getting both pairs of jeans
Money supply refers to the amount of money available in the economy. It can be in different forms like cash, coins, and balances that are usually held in different checking and savings accounts. It also refers to the entire stock that a country has available within its economy.
Answer:
Benjamin Franklin was 85 years old and in poor health when George Washington was sworn in as the first President of the United States.
Explanation:
His parents could only afford to send him to school for two years.
According to the risk aversion principle, you should take the action that produces the least harm.
It is a phycological concept applied in economics, specially within the field of finance. When facing situations that involve uncertainty, risk aversion consists on choosing the alternative that diminishes it as much as possible. It is a common behaviour when selecting investment opportunities. For example, a risk averse saver will prefer to keep his money in a bank account (low risk low profit), rather than purchasing shares and betting in the stock markets (high risk high profit).
