A Person with Diminishing Marginal Utility of Wealth Is Risk

question 120

True/False

A person with diminishing marginal utility of wealth is risk averse.

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Definitions:

Extrinsic Motivation

Motivation that stems from the work environment external to the task; it is usually applied by others.

Innovation

The process of creating, developing, and implementing new ideas, products, or methods to improve or replace existing ones.

Extrinsic Rewards

Benefits or incentives given to an individual that are external to the task being performed, such as money, praise, or awards.

Creative Behaviour

Actions demonstrating ingenuity, originality, or the ability to generate innovative ideas and solutions.