Frank, who is married and the father of one, is 37 years old and expects to continue to work until age 65. He earns $129,000 per year and expects annual salary increases of 3%. Frank expects inflation to be 3% over his working life, and the appropriate risk-free discount rate is 7%. His personal consumption is equal to 26% of his after-tax earnings, and his combined federal and state marginal tax bracket is 30%. Calculate the life insurance coverage needed according to the Human Life Value Method.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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