Most of the Economic Values We Use in Our Evaluation

question 14

Multiple Choice

Most of the economic values we use in our evaluation of engineering projects are

• A)precise and very descriptive.
• B)approximate.
• C)based on robust statistical estimation.
• D)derived from natural experiments.
• E)results of precise statistical surveys.

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Definitions:

Maslow's Hierarchy

A psychological theory proposed by Abraham Maslow that categorizes human needs into a five-tier model in the shape of a pyramid, starting from basic physiological needs to self-actualization at the top.

McClelland

David McClelland, a psychologist known for his work on motivation and the theory of Needs, including Achievement, Affiliation, and Power.

Achievement Needs

The desire or motivation of an individual to achieve excellence, accomplish challenging goals, and advance personally or professionally.

Moderately Difficult

Characterized by a level of challenge that is neither too easy nor too hard, requiring a fair amount of effort to overcome.