Namibia Regional Economics: FIN-111 Assignment 1 Question 1 a) Opportunity and sunk cost Opportunity cost is the value of the next best alternative that must be sacrificed when you make a choice and it applies everywhere. For Example: If a person chooses to use vacation time to travel rather than to do renovations on the house. Thus‚ the opportunity cost of the tour could be said to be the forgone home renovations. Sunk costs are costs that were incurred in the past and
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Rational Murderers Murder is‚ by the world’s definition‚ the worst criminal offense possible. According to Vito & Maahs (2012)‚ murder is defined as the willful (non-negligent) killing of one human being by another. The United States punishes murderers by giving them extremely long sentences in prison‚ usually life long‚ or a sentence of death where the offender’s own life is taken. Even though this punishment is universally known throughout the nation‚ murders are still committed. According
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is that the people we love‚ must have specific looks and characteristic traits for love to be rational. We rationally love those that are our own blood relative. For example our immediate family members causes us as people to love them no matter what. It is a predisposed condition that allows us to love them regardless and unconditionally. Also love can make us behave in ways that are not logical. Rational Love The moment a mother gives birth to her child and physically sees him or her for the very
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Crimes are rooted on the motives of the predator. There have been developed different theories to explain the root motives of causing crimes. Rational Choice theory emphasizes on the element of the three actors ( Jacky G.‚2014). Rational actor opts to do the crimes by choice‚ but can be prevented by installing stiff punishment policies. Predestined actor has strong urges for performing the crimes and their environment acts as the main motivator. Finally‚ victimized actor is motivated by residing
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want to act. The rational choice theory says that criminal behavior is caused by internal and external factors outside of the individual’s control. Cesare Lombroso suggests that the physiological traits such as the measurements of someone cheek bones‚ or their hairline. The positivism theory says its factors like poverty‚ subcultures or lower levels of education can predispose people to crime. All of those are proven factors of crime through key sociological theories. The rational choice theory is
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TASK ASSIGNMENT Apply the rational choice theory in the context of your past or present work experience. I can think of these examples that the Rational Choice Theory is applied: my membership in GMA’s Multi-Purpose Cooperative and participation in various volunteer activities. Cooperative I have joined GMA’s Multi-Purpose Cooperative since 2002 recognizing the optimum benefits from my savings versus the traditional bank savings deposit. Saving through COOP seems unfelt because it is deducted
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MY ROLE MODEL IN CAREER Mr. Mahbub Hossain‚ my line manager of my previous office‚ is my role model for my career path. He is the CSM (Customer Service Manager)of Joydebpur branch‚ Brac Bank LTD. In brief‚ he is getting MBA from IBA along with his job. Was graduated from DU (Finance)‚ prior that he took places in both HSC & SSC examinations. As I worked with him‚ I found many good qualities in him. By times‚ I took him as a role model as his qualities impressed me. I am going to point out two
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1. Is a rational decision process likely to produce the best outcomes when a situation is risky or uncertain? Is an intuitive‚ behavioral process best used under risk or under certainty? Explain. 1. During the rational decision process‚ I feel that an uncertain situation is better. The decision maker may not know all the alternatives‚ the risks associated with each‚ or the consequences of each alternative‚ however I feel that sometimes when you don’t know all the facts of something that you work
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Business Model and Strategic Plan BUS/475 July 21‚ 2014 Table of Contents Page Title Page i Table of Contents ii Executive Summary…………………………………………………………………... 3 Business Model and Strategic Plan Part I…………………………………………….. 5 Existing Business or New Business Division Vision‚ Mission Value Proposition Business Model and Strategic Plan Part II……………………………………………. 8 SWOTT Analysis Internal and External Environmental Analysis Supply and Value Chain Analysis Business
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Rational thinking is often viewed as “a way of obtaining knowledge that emphases using the mind rather than the supernatural as a means of coming to truth”. Epictetus believes that one may be responsible for their judgment‚ impulses‚ desires‚ aversions‚ and general mental faculties while one may not have as much control over their body‚ possessions‚ and reputations (Human Foundations 251). We are rational beings living in a rational universe. One possesses the quality to make decisions with his or
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