The accurate answer is option (c). Explanation: According to the posed question, firms or organizations opt to reduce their inventory since higher spending on inventory translates to increased overall costs on other related inventory expenses. The rationale is that maintaining a fully stocked inventory results in rising costs associated with inventory upkeep, which is not advantageous for the business.
Answer:
Using and carrying a premium credit card like the American Express Centurion Card fulfills needs at which tier of the Maslow hierarchy?
Esteem level.
Explanation:
The Maslow hierarchy of needs is a psychological model comprising five levels arranged in a pyramid format. The lower tiers consist of basic needs that must be addressed before tackling those higher up. These foundational needs typically include physical requirements such as food, shelter, and security, whereas the higher tiers aim to enhance a person's overall quality of life. They encompass aspects like safety, love, basic needs, and self-actualization.
The hierarchy can be divided into two categories: deficiency needs and growth needs. The initial four levels correspond to deficiency needs, while the top level is characterized as a growth need. Deficiency needs stem from a lack or deprivation, while growth needs originate from a potent desire to improve and excel. The five levels are physiological, safety, love and belonging, esteem, and self-actualization.
In this scenario, an individual possessing a high-end credit card is likely motivated by status, placing them firmly within the esteem level of Maslow's hierarchy.
entrepreneurial spirit. Explanation: Classical economic theory identifies three factors of production: land, labor, and capital. However, contemporary views recognize entrepreneurship as a fourth factor, with some going further to include technology as a fifth factor. An entrepreneur is identifiable as an individual who integrates the various production factors to establish a business. Successful entrepreneurs possess key traits such as innovation, creativity, passion, a future-oriented outlook, optimism, and resourcefulness.
