Products in the decline of the product life cycle tend to consume a disproportionate share of management and financial resources relative to their future worth.
Finance is defined as money management and includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting. There are three major types of finance: (1) personal, (2) corporate, and (3) public/government. Finance is a broad term that describes activities related to banking, leverage or debt, credit, capital markets, funds, and investments. At its core, finance describes the process of managing money and raising the funds you need.
Historically, The Wall Street Journal has been one of the most respected and trusted sources of financial information. are essential in any economic system as they allow businesses to buy products that are out of immediate reach. In other words, financing is a method of using the time value of money (TVM) to allocate expected future cash flows to projects that start today.
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symon's suppers company has announced that it will pay a dividend of $4.29 per share one year from today. additionally, the company expects to increase its dividend by 4.7 percent annually. the required return on the company's stock is 10.9 percent. what is the current share price?
From the giving information, the Symon's suppers company current share price is $69.19
Share price = Next year dividend/ ( Required return - growth rate )
= 4.29/ ( 0.109 - 0,047
= $69.19
The price at which a security was most recently sold on an exchange is known as the "current price."Buyers and sellers use the current price as a starting point.Although current pricing is a good reflection of current worth, supply and demand may cause the actual price of the next sale to vary.Market value and current price are synonyms. It is the most recent trading price for a share of stock or other security. The price at the moment serves as a benchmark in an open market. It shows what a buyer would be willing to pay and what a seller would accept for a later transaction involving that security.Learn more about Current Price, here
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mary alice just won the lottery and is trying to decide between the options of receiving the annual cash flow payment option of $250,000 per year for 25 years beginning today, or receiving one lump-sum amount today. mary alice can earn 6% investing this money. at what lump-sum payment amount would she be indifferent between the two alternatives?
The lump sum payment is $3387590
Recall that:
The annual cash flow payment option is =$250,000
n = 25 years
Mary Alice can earn =6% investment of the money
Now
We find the lump sum payment which is given below:
Lump-sum amount = $250,000* PVAF at (i=6%,n=25y)
Thus
$250,000*13.55036
= $3387590
There would be no difference between the two options when a lump sum amount is generated by converting the $250,000 in alternative 1's cash flows to present value using the PVAF at 6%,25y
PVAF =Present value annuity factor
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suppose a company spends $100,000 during year x1 to research and develop a safety device for motorcycles. by the end of x1, the company estimates that the new safety device has an 80% chance of generating $500,000 in revenues from sales to customers over the next five years (x2 - x6). for what amount would research and development expense be reported in x1?
The current year's research and development costs were recorded at $100,000.
The definition of expenses is the outflow of money paid, which refers to the cost expended for requiring anything.
Example: The amount spent on the machine.
Calculating the Research and development for the current year:
The data offered are, in accordance with the described case:
The cost of Research And Development is $100,000.
R&D costs are abbreviated as RAD.
80% of the time
Total earnings equaled $500,000
Since we only take into account money that has been spent or paid in the current year, the amount taken into account for reporting research and development costs is $100,000.
Since other information is irrelevant for determining the amount of research and development, the RAD for the current year would be $100,000.
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The idea that employees would quit working for enron if their values were different than those at the company is consistent with the?.
The idea that employees would quit working for enron if their values were different than those at the company is consistent with the ASA framework.
A worker is someone who receives paid to work for someone or business enterprise. people don't need to work complete time to be taken into consideration personnel—they absolutely need to be paid to paintings by means of an enterprise (the man or woman or commercial enterprise that will pay them).
The employees are the real property of an enterprise. they may be the ones who make contributions effectively towards the successful functioning of an organisation. They try hard to supply their level quality and achieve the assigned objectives inside the stipulated time frame.
An employee is employed through someone or commercial enterprise to perform paintings for that character or business, additionally called the organization. The internal revenue service defines individuals as employees if the corporation can manage the paintings accomplished.
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concertville is hosting a series of outdoor concerts in the park. the concert series will cost the city $600 to host. city officials expect the concert series to draw a crowd of 150 people, 25 of whom will free ride. based on this information, how much should city officials charge for the concert series in order to cover the $600 expense?
City officials should charge $4.8 per person for the concert series in order to cover the $600 expense.
Expected number of people = 150
Expected number of people that would free ride = 25
Number of expected people to pay the amount -
Expected number of people - Expected number of people that would free ride
= 150 - 25
= 125
Cost to charge per person -
Total cost / Number of expected people to pay
= 600 / 125
= 4.8
Therefore, city officials should charge $4.8 per person for the concert series in order to cover the $600 expense.
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Which type of competition allows
sellers to enter or exit the market
without barriers?
A. Open Competition
B. Monopolistic Competition
C. Pure Competition
D. Total Competition
Pure Competition (Perfect Competition) allows sellers to enter or exit the market without barriers. Thus, option 'C' is the correct option.
What is Perfect Competition?A perfect market, also known as an atomistic market, is defined by various idealizing criteria, which are together referred to as perfect competition, or atomistic competition, in economics, especially general equilibrium theory.
It has been shown in theoretical models with the perfect competition that a market would find equilibrium when the amount provided for each good or service, including labor, matches the amount sought at the present price. A Pareto optimal equilibrium would be this one. Both allocative and productive efficiency is provided by perfect competition.
Therefore, option 'C' (perfect competition) is the correct option.
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vroom developed two decision trees to help managers decide how much subordinate participation to allow. one decision tree is to be used when the decision must be made quickly. when should the second decision tree be used? when the cost of making a bad decision is high when the goal is to help subordinates improve their decision-making skills when the subordinates are able to make a decision on their own
The second decision tree be used when the subordinates are able to make a decision on their own. Decision trees categorise instances by arranging them in a tree from the root to a leaf node.
The best and most widely used technique for categorization and prediction is the decision tree. In a decision tree, which resembles a flowchart, each internal node indicates a test on an attribute, each branch shows the test's result, and each leaf node contains the class name.
When presented with two or more options, a choice is an act of selecting or making a decision. A decision is described as a conclusion or resolution made after consideration. A circumstance that calls for a decision is referred to as a decision-demanding situation. In the decision circumstance, a decision is clearly necessary, and the decision maker must start by defining the issue and engaging in the decision-making process.
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the income and substitution effects account for: group of answer choices the upward sloping supply curve. the downward sloping demand curve. shifts in the demand curve. movements along a given supply curve.
The income and substitution effects account for the downward sloping demand curve.
What is demand curve ?A demand curve is a graphical form of the relationship between the price of a good or service and the quantity demanded over a period of time.In a typical representation, price is displayed on the left vertical axis and quantity demanded is displayed on the horizontal axis. The three basic properties are position, tilt and translation.Position is basically where the curve is located on this chart. For example, if a curve is placed on the far right of this graph, it means that demand for that product is high at a particular price. Changes in factors such as median income and preferences can cause the entire demand curve to shift left or right. This increases or decreases the quantity requested at a given price. Ceteris paribus assumption. The demand curve relates price and quantity demanded, assuming other factors remain unchanged.To learn more about demand curve from the given link :
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You need to give every dollar a name. Why is this important? what might happen if you don‘t have a plan for every dollar you make?.
It is important to give every dollar a name because of zero-based budget. The greatest way to budget is with a zero-based budget since no money is wasted and every dollar has a purpose. if you don‘t have a plan for every dollar you make your money may be wasted and lead to increase in expense and resource misallocation. The zero-based budget intentionally assigns a name to each dollar before the month even starts.
Explain zero-based budget.With zero-based budgeting (ZBB), instead of starting with the prior budget and making adjustments as needed, all expenses must be justified for a new period or year starting from zero. Zero-based budgeting has many benefits as an accounting technique, including targeted operations, decreased expenses, budget flexibility, and strategic execution. Managers become more aware of the top revenue-generating operations when they consider how each dollar is spent. Zero-based budgeting, on the other hand, may minimize resource misallocation that could occur over time when a budget develops incrementally, which could lead to reduced expenses.
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you are a speculator who sells a call option on swiss francs for a premium of $.06, with an exercise price of $.64. the option will not be exercised until the expiration date, if at all. if the spot rate of the swiss franc is $.69 on the expiration date, your net profit per unit, assuming that you have to buy swiss francs in the market to fulfill your obligation, is: group of answer choices
Net profit per unit assuming that you have to buy swiss francs in the market to fulfill your obligation will be $.01
The computation of the net profit per unit is given below:
= Exercise price + Premium - Spot rate on the expiration date
= $0.64 + $0.06 - $0.69
= $0.01
Net profit divided by the number of units sold = net profit for the time period.
To calculate how much of the selling price you ultimately keep, compare your net profit per item to the price at which you sell each item.
In order to determine the genuine value per unit, we added the premium and subtracted the spot rate on the expiration date from the exercise price.
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The complete question is:
You are a speculator who sells a call option on Swiss francs for a premium of $.06, with an exercise price of $.64. The option will not be exercised until the expiration date, if at all. If the spot rate of the Swiss franc is $.69 on the expiration date, your net profit per unit is:
a.-$.02.
b.-$.01.
c. $.01
d. $.02
e.None of the above.
Elasticity is the measure of how producers and consumers react to changes in
A supply is
A supply is
when the quantity of a good supplied does not change as the price changes.
when the quantity of a good supplied increases or decreases as the price changes.
the consequences of legislation enacted to cancel budget authority previously provided by congress before the time when the authority would otherwise lapse (i.e., cease to be available for obligation) is called: group of answer choices
In legislature, any consequences of legislation enacted to cancel budget authority previously provided by Congress before the time when the authority would otherwise lapse is called a rescission.
What do we need to understand about rescission?In legal term, a rescission refers to when a contract is rendered null and void, and so is no longer recognized as legally binding. As such, the ruling courts can free the non-liable parties from their agreed obligations and will effectively seek to restore them to the position they were in before the contract was signed.
In contract law, a rescission can always occur when there is a material error in the contract, evidence of fraud, a lack of legal or mental capacity as well as other applicable circumstances.
In a typical court, the rescission is seen as an equitable remedy and is discretionary and a synonym for termination at law. A ruling court may decline to rescind a contract if one party has affirmed the contract by his action or a third party has acquired some rights or there has been substantial performance in implementing the contract.
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cool scoops makes ice cream in two processes, mixing and packaging. during april, its first month of business, the packaging department transferred 50,800 units and $198,120 of production costs to finished goods. the company completed and sold 48,800 units at a price of $5.80 per unit in april. a. what is the cost to produce one unit of ice cream during april?b. what is the total gross profit on ice cream sales for april?
The cost to produce one unit of ice cream during April is $ 3.9 and the total gross profit on ice cream sales for April is $ 92,720.
Cost per completed unit:= Total production cost / Transferred unit
= $ 198,120 / 50,800
= $ 3.9
Total gross profit:= number of units sold × (selling price per unit – cost per unit )
= $ 48,800 × (5.8 - 3.9)
= $ 48,800 × 1.9
= $ 92,720.
By deducting the cost of items sold from revenue, gross profit—also known as gross income—is computed.Typically, fixed expenses are excluded from gross profit and only variable costs are included.A company's efficiency in employing its labor and resources to produce goods or services is measured by its gross profit.Unlike net profit, which takes into account all expenditures incurred by the entire organization, gross profit solely accounts for the cost of items sold.Gross margin, which shows what much of a company's income may be used to pay operational expenses, is a derivative of gross profit.Learn more about Gross profit, here
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the production manager wanted to check the effect of reducing the price of model rdb so that the new contribution to profit is $100 per unit. a colleague said that this cannot be determined using the above output from excel and that the model needs to be re-run with the new contribution profit of $100. do you agree or disagree? explain.
The production manager can assess the model RBD's impact. It has to utilize model RBD for that.
A Reliability Block Diagram is a technique for simulating how the breakdown of one component or subsystem might result in the failure of the entire system. A system's availability may be predicted using reliability block diagram analysis, and the important components can be identified.
Equipment failure rates, operating philosophies, and maintenance strategies can all be quantitatively evaluated in terms of the effect they are anticipated to have on the system using reliability block diagrams (RBDs), which are a way of representing a system, including its subsystems and components, as a series of blocks.
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What is the term for the act that businesses commit when they agree to set prices and increase their control of the market share?.
Collusion can occur across a variety of market types and take many different shapes. In each situation, groups as a whole have an unfair advantage. One of the most common types of collusion is price fixing.
Collusion occurs when businesses or individuals work together to influence a market or price for their personal gain. Examples of collusion include the rigging of prices, coordinated advertising, and the sharing of insider information.
Whistleblower and antitrust laws deter collusion. Price fixing occurs when a specific supplier market has a limited number of businesses, or when there is an oligopoly. This small group of businesses works together to decide on the price for a product they both sell.
Companies run the risk of colluding when they coordinate their marketing operations.
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learning curves are a strong competitive weapon, especially in developing group of answer choices a. a pricing strategy b. an advertising campaign c. a long-term customer d. none of the above
Learning curves are a strong competitive weapon, especially in developing group of (a) a Price strategy.
What are Learning Curves?
The relationship between a person's level of competence and their experience is represented graphically by a learning curve. The horizontal axis represents experience, while the vertical axis represents proficiency; hence, the more often a person, group, business, or industry performs a task, the better they perform at it.
What are the different types of learning curve?
1. Diminishing-Returns Learning Curve
2. Increasing-Returns Learning Curve
3. Increasing-Decreasing Return Learning Curve
4. Complex Learning Curve.
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you have just won the lottery! you can either receive $6,500 a year for 20 years or $100,000 as a lump sum payment today. what is the interest rate on the annuity option?
2.64 percent is the interest rate on the annuity option.
Describe annuity rate.
What is a rate of annuity?
The amount of income that will be paid after investing a lump sum in an annuity is determined using an annuity rate. If your pension agreement contains a guaranteed annuity rate, your provider is required to provide you with that minimum annuity income when you retire. Because the monthly payment is based solely on the annuitant's life, the life option often offers the greatest payout. This choice offers a lifetime income stream, serving as a strong safeguard against outliving your retirement savings. The four annuity types are:
Lifetime guaranteed annuities: This choice.
The tax-deferred choice is deferred annuities.
Fixed annuities: The option with lesser risk.
Variable annuities: The highest upside option
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a real estate agent has leased 10 rooms in a resort area for $100,000 for the summer season. she hopes to rent these rooms and generate profit for her business. what will the fixed costs be for the real estate agent if only 6 rooms are occupied because of excessive rains?
The fixed cost for the real estate agent if only 6 rooms are occupied because of excessive rain is $100,000.
Working as an estate agent is likewise an opportunity to build a successful profession, from which you can earn an earnings-based totally on your performance. it's miles, consequently, a developing market and you will maximum possibly see an effective go back in your efforts.
Marketplace and sell homes for sale. Represent the dealers in negotiation by searching for what you offer. Reveal income as they continue and liaise with all involved parties including mortgage agents, solicitors, surveyors, and different property retailers. Recommend clients and assist shoppers to determine what they need to buy.
However, property sellers do not need to go to university. However, having a degree in actual estate will show your future employers and customers that you have gone thru expert schooling and training to cope with properties.
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suppose there is a major technological advance in the production of a good that causes production costs, and thus prices, to fall. if demand for the product is relatively inelastic, what will happen in the market?
The decline in prices will generally outpace the rise in demand.
Make a note about the price elasticity of demand.The amount by which a product's consumption alters in response to price changes is defined as the price elasticity of demand. The formula is as follows:
Price Elasticity of Demand is the division of the percentage change in quantity demanded by the percentage change in price.
Economics experts use the idea of price elasticity to examine how supply and demand for a good or service fluctuate in response to price changes.
Like demand, supply also exhibits price elasticity. Price elasticity of supply is the term that refers to the relation between a price change and a supply change. By deducting the percentage change in price from the percentage change in quantity offered, it is estimated. What things are produced and how much they cost are determined by the interaction of the two elasticities.
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austin's total fixed cost is $3,600. austin employs 20 workers and pays each worker $60. the average product of labor is 30, and the marginal product of the twentieth worker is 12. what is the marginal cost of the last unit produced by the last worker austin hired?
$5 is the marginal cost of the last unit produced by the last worker austin hired.
Given that,
Total fixed cost = $3,600
Number of workers employs = 20
Wages = $60 per worker
Average product of labor = 30
Marginal product of twentieth worker = 12
The cost that has increased in order to produce an extra unit of a commodity is referred to as the marginal cost.
The production opportunity cost is known as marginal cost.
we can calculate the marginal cost of the last unit produced by the twentieth worker is:
= Wages per worker ÷ Marginal product of twentieth worker
= $60 ÷ 12
= $5
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Brickhouse is expected to pay a dividend of $2. 50 and $2. 20 over the next two years, respectively. After that, the company is expected to increase its annual dividend at 2. 6 percent. What is the stock price today if the required return is 10 percent?.
$35.2 is the stock price today
A share price is the cost of one equity share among many sellable shares of a corporation.
How to calculate stock price ?A share price is the price of a single share of a company's sellable equity shares. In layman's terms, the stock price is the highest amount that someone is willing to pay for the stock, or the lowest amount that it can be purchased for.
A share's price is determined by supply and demand. If demand is high, it will rise, and if demand is low, it will fall. Stock prices are determined by the bid and ask price of the stock. A bid is an offer to purchase a specific number of shares at a specific price. An ask is a request to sell a specific number of shares at a specific price.
To determine how valuable the shares are for traders, multiply the last updated value of the company share by the number of outstanding shares. The price to earnings ratio is another method for calculating the share price.
The company's shares are first issued in the primary market; an Initial Public Offering (IPO) is made to the general public to raise funds to meet capital requirements. The initial share price is determined in an IPO by taking the firm's performance and net present value into account.
Calculating answer for given question :
P2 = [$2.20(1 + .026)]/(.100 - .026) = $30.50
P0 = $2.50/1.00 + ($2.20 + 30.50)/1.00 = $35.2
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which of the following would be least likely to cause the production possibilities curve to shift outward? group of answer choices an invention that requires fewer resources to produce a good. a shift in consumer preferences that causes expansion in the output of one product and a decline in output of other products. an expansion in the man-made productive resources available to the economy as the result of a high rate of investment. a decreased desire for leisure by workers in the economy.
Things that alter an economy's output, like technological advancements, resource changes, increases in education or training (this is what we refer to as "human capital"), and adjustments to the labor force, generate shifts in the production possibilities curve.
South America has been one of the most dynamic places for natural gas in recent years. Ample gas supplies and rapidly expanding energy markets are found on the continent. Many nations encourage using natural gas, particularly for electricity generation, to diversify away from hydropower and oil.
An economy's production possibility curve won't move to the right due to reduced unemployment because resources won't grow.
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what changes could you make in the cookie production process to increase its capacity? to reduce the flow time? would it help to hire a third person? to rent a second oven?
Flow time for a rush order.
The slowest stage of the process determines the cooking capacity. As a result, it is only possible to make 6 dozens of cookies per hour, or 1,2 cookies per minute.
How can we increase capacity based on production?Increase your production capacity by adding shifts, having employees work overtime, or outsourcing some of your production. The capacity utilization rate is a percentage that indicates how much of a company's manufacturing capacity is being used. The lower the cost per unit, the higher the rate.Increase the number of work shifts: A manufacturing company can increase its capacity by extending the amount of time available for manufacturing. Manufacturers can encourage employees to work extra hours by instituting overtime pay. Manufacturers can also use a shift-based operation.To learn more about production capacity refer to :
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a construction company recognizes revenue from construction contracts over time using the input method based on costs incurred. it reports the following: year 1 year 2 construction costs $100 $200 estimated cost to complete at year-end 300 0 the contract price is $1,000. what is the profit recognized in year 2? $400 $800 $150 $550
$400 is the profit a construction company recognizes revenue from construction contracts over time using the input method based on costs incurred.
The answer is option A.
Total construction cost = $200 + $100 + $300
Contract prize = $1000
Profit = Contract prize - Total construction cost
Profit = $1000 - $600 = $400
Sales from price plus contracts is regarded through reference to the recoverable expenses incurred throughout the length plus the fee earned, measured through the share that charges incurred up to the reporting date endure to the predicted total costs of the agreement. A construction contractor has a hard and fast rate contract for Rs.
Multiply general estimated contract sales by way of the predicted completion percent to reach the entire quantity of revenue that can be recognized.
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a report that lists the types and amounts of costs incurred in manufacturing is a: multiple choice manufacturer balance sheet. manufacturer period cost statement. balanced scorecard. sales journal. schedule of cost of goods manufactured.
The schedule of cost of goods manufactured is the report that lists the types and amounts of costs incurred in the manufacture of a good.
What is the purpose of schedule of cost of goods manufactured?This report is intended to help organizations make more effective decisions based on the company's actual financial situation. The total manufacturing cost of a period helps the company to implement a pricing strategy, cost reduction and projections more accurately.
To calculate the cost of the manufactured good, the organization must use the following calculation:
COGM=Initial WIP Inventory+Total Manufacturing Costs-Final Wip Inventory.Therefore, total manufacturing costs must include both direct and indirect costs of the production process, such as labor and material costs.
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howes inc. purchases $4,562,500 in goods per year from its sole supplier on terms of 2/15, net 50. if the firm chooses to pay on time but does not take the discount, what is the effective annual percentage cost of its non-free trade credit? (assume a 365-day year.) a. 24.63% b. 21.17% c. 20.11% d. 22.28% e. 23.45%
The effective annual percentage cost of its non-free trade credit is 23.45%.
What is trade credit?
Trade credit is a loan given by one merchant to another when products and services are purchased on credit. Trade credit allows for the acquisition of supplies without the need for immediate payment. Business groups frequently use trade credit as a form of short-term finance. It is given to consumers that have a solid financial status and a good reputation.
Effective annual cost of its non free trade credit = (1 + Discount/(100% -discount) ^365/( days of credit - discount period ) -1
=(1+(2%/(100%-2%))^(365/(50-15))-1
=23.45%
So, E is the right answer.
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dave was employed by a car dealer to work in the parts department. he was instructed not to loiter in the sales area and, if asked by a customer whether he worked there, to reply that he was not a salesperson. one day dave was in his work uniform and was looking at a new car, a customer asked whether he worked there, dave replied yes. what authority, if any, does dave have to sell a car?
The ability to act on behalf of a principal without stated or implicit permission is known as seeming authority. This authority only exists if a third party can properly conclude from the principal's actions that the principal gave the agent such authority.
According to agency law, an agent has apparent power to act on behalf of a principle if their actions are within the extent of their authority and their manifestations of the principal to third parties would reasonably lead them to assume that the principal gave the agent the go-ahead.
For a contract or agreement originating from an agent's actions to bind a firm, there must be four elements of apparent authority. The agent's declaration that he was authorized to operate on the company's behalf.
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which of the following is not a condition of a perfect competition: a. products produced by rival firms are perfect substitutes b. any individual firm cannot affect market supply c. unrestricted entry and exit d. industry sales are small e. each firm has complete knowledge about production and prices
Option D is a condition of a perfect competition that is not met. The Industry sales are small.
What is perfect competition?A perfect market, also known as an atomistic market, is defined in economics by several idealizing conditions, collectively known as perfect competition, or atomistic competition. When all companies sell identical products, market share has no influence on price, companies can enter and exit without barriers, buyers have perfect or full information, and companies cannot determine prices, perfect competition exists. Perfect competition is a type of marketplace in which multiple companies sell the same product or service. Many customers are interested in purchasing those items. None of these companies can set a price for their product or service without losing business to competitors.To learn more about perfect competition, refer to:
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which of the following best defines the concept of a relevant cost? which of the following best defines the concept of a relevant cost? a past cost that is the same among alternatives. a past cost that differs among alternatives. a future cost that is the same among alternatives. a future cost that differs among alternatives. a cost that is based on past experience.
The concept of a relevant cost is best defined by A future cost that varies between alternatives.
What is relevant cost?Relevant costs are any costs that are relevant to a decision. A matter is relevant if the decision results in a change in cash flow. Additional amounts that must be paid can cause a change in cash flow. A reduction in the amount that must be paid a business decides to purchase loading equipment for a factory unit. This machine can save the wages of twenty manual laborer's. These expenses are important because they will change in the future as a result of the purchase decision. Relevant costs are classified into four types based on their relevance to a company's operations. Future costs, opportunity costs, avoidable costs, and incremental costs are among them.To learn more about relevant cost, refer to:
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who among the following individuals received an intrinsic reward? jake, who received a one-time payment from the management for his 7-year tenure at the company fiona, who received a travel voucher for exceeding the monthly sales target shiraz, who was allowed to choose the work project that interested him the most for his next assignment ritu, who was given the option of buying the company stocks as a reward for her exceptional leadership
Ritu received the intrinsic reward who was allowed to choose the work project that interested her the most for the next assignment.
Employees that do a good job at their jobs are intrinsic reward. These are frequently psychological and may include a sense of accomplishment and pride for making particular progress at work. Since everyone may feel rewarded for different accomplishments, such as finishing tasks, developing new skills, or supporting a team effort, each person may experience intrinsic rewards that are different from one another.
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