Irrelevant Costs

question 55

Multiple Choice

Irrelevant costs

• A)do not differ among alternatives.
• B)can be avoided by a business.
• C)are the same as opportunity costs.
• D)are costs that will be incurred in the future.

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Definitions:

Maslow's Hierarchy

A psychological theory proposed by Abraham Maslow, organizing human needs into a hierarchy, from basic physiological needs to safety, love/belonging, esteem, and self-actualization needs.

Distress

Negative stress that arises when demands exceed an individual's coping abilities, resulting in psychological strain or anxiety.

High Achievers

Individuals who consistently perform at a high level and achieve significant success in their activities.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.