Explain the Difference Between a Need and a Want

question 82

Essay

Explain the difference between a need and a want?

Distinguish between the opportunity costs and returns of different investment options.

Evaluate the role of inflation and market uncertainty on investment behavior.

Assess the impact of capital cost, including both interest expenses and opportunity costs, on investment decisions.

Calculate the expected rate of return and its significance in making investment choices.

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Definitions:

Activity

Actions or tasks performed by individuals, often contributing to achieving a particular goal or purpose.

Human Nature

The general psychological characteristics, feelings, and behavioral traits of humankind, regarded as shared by all humans.

Self-actualization

Describes the realization or fulfilment of one's talents and potentialities, especially considered as a drive or need present in everyone.

Learning Experiences

Interactions with the environment or other individuals that lead to a change in behavior or understanding.