In order to better understand what motivates human beings, Maslow proposed that human needs can be organized into a hierarchy.
Maslow organized human needs into a pyramid that includes (from lowest-level to highest-level) physiological, safety, love/belonging, esteem, and self-actualization needs.
Physiological needs - these are biological requirements for human survival, e.g. air, food, drink, shelter, clothing, warmth, sex, sleep.
If these needs are not satisfied the human body cannot function optimally. Maslow considered physiological needs the most important as all the other needs become secondary until these needs are met.
2. Safety needs - once an individual’s physiological needs are satisfied, the needs for security and safety become salient. People want to experience order, predictability and control in their lives. These needs can be fulfilled by the family and society (e.g. police, schools, business and medical care).
For example, emotional security, financial security (e.g. employment, social welfare), law and order, freedom from fear, social stability, property, health and wellbeing (e.g. safety against accidents and injury).
3. Love and belongingness needs - after physiological and safety needs have been fulfilled, the third level of human needs is social and involves feelings of belongingness. Belongingness, refers to a human emotional need for interpersonal relationships, affiliating, connectedness, and being part of a group.
Examples of belongingness needs include friendship, intimacy, trust, and acceptance, receiving and giving affection, and love.
4. Esteem needs are the fourth level in Maslow’s hierarchy and include self-worth, accomplishement and respect. Maslow classified esteem needs into two categories: (i) esteem for oneself (dignity, achievement, mastery, independence) and (ii) the desire for reputation or respect from others (e.g., status, prestige).
Maslow indicated that the need for respect or reputation is most important for children and adolescents and precedes real self-esteem or dignity.
5. Self-actualization needs are the highest level in Maslow's hierarchy, and refer to the realization of a person's potential, self-fulfillment, seeking personal growth and peak experiences. Maslow (1943) describes this level as the desire to accomplish everything that one can, to become the most that one can be.
Individuals may perceive or focus on this need very specifically. For example, one individual may have a strong desire to become an ideal parent. In another, the desire may be expressed economically, academically or athletically. For others, it may be expressed creatively, in paintings, pictures, or inventions.
Marginal thinking is when a decision maker evaluates the marginal benefits and marginal cost of a certain activity. Daniel is trying to evaluate if the extra calories (marginal cost) he would get from eating the 5th size of pizza (marginal benefit) is worth it.
Trade offs is also known as opportunity cost. It is what is sacrificed in order to carry out a certain activity. If Daniel eats the pizza, he's sacrificing a more healthy body for the extra slice of pizza.
Sustainability programs are usually used by organization for the growth of the organization, it may be interms of risk management and others however, it has to be a continuous process for it to be achieved.
It should be noted that Sustainability programs often find their success beyond company boundaries, thus internal systems and process metrics cannot capture all of the relevant numbers.
According to the information given in the question, the best option to pursue would be early retirement.
Early Retirement presents a handy and exceptional way for assembly expectancies of a reduction in force (RIF). A reduction in force (RIF) takes place whilst a function is eliminated with no intention of changing it and effects an everlasting cut in headcount. A corporation may additionally decide to lessen its staff by means of terminating employees or by means of attrition
RIF occurs whilst a company completely eliminates positions. It is distinct from a furlough, wherein an employee's hours are quickly reduced. In the Federal government, layoffs are referred to as a reduction in force movements. When an agency should abolish positions, the reduction in force policies decides whether or not an employee keeps his or her gift position, or whether the employee has a proper to an extraordinary role.
Personnel reduction is a movement to lessen the range of personnel in a branch or in the County typical. Motives for a discount in force may additionally encompass, however, aren't constrained to reduced funding, reorganization, and/or modified workload.
The question is incomplete. The complete question is stated below.
If the marginal propensity to consume is equal to 0.85, then a $500 increase in disposable income leads to a:
a. $400 increase in consumption spending
b. $75 increase in consumption spending
c. $425 increase in personal saving
d. $75 increase in personal saving
Answer:
If a $500 increase causes an increase of $425 in consumer spending, the rest of $75 is the increase in personal saving. Thus, option D is the correct answer.
Explanation:
The marginal propensity to consume or MPC is the percentage of the additional income that will be used for consumption spending. It is a concept that is used to calculate how much of an increase in income will be used in consumption and saving. The formula to calculate MPC is,
MPC = Change in consumer spending / Change in income
0.85 = Change in consumer spending / 500
500 * 0.85 = Change in consumer spending
Change in consumer spending = $425
If a $500 increase causes an increase of $425 in consumer spending, the rest of $75 is the increase in personal saving.
