An example from my personal experience when I found myself justifying a value for
something is when I decided to invest in myself by enrolling in a certificate program. My
goal was to improve my skills in Geographic Information Systems (GIS) over time by
taking a variety of courses over a period of 3 years. In the long run, I would be eligible to
apply for a variety of positions in a broader range of fields, and possibly complete some
freelance work as a second job as well. Despite having to pay a steep price for each of the
courses in the certificate program, I justified my decision by applying the principle of
anticipation. This principle refers to the price we pay for goods and services is the present
worth of the anticipated future benefits we hope to receive from these goods and services.
Likewise, the price I paid for the courses in the certificate program is the present cost that
will help me improve my technical skills in the long run, being my future benefit.
There were many other factors that I had to take into consideration before making the
decision of enrolling in the certificate program, such as time and effort as well as
questioning my motivations behind it. I realized that I would have to allocate a certain
amount of time each week and make sure that I have the ability to focus and be highly
motivated in order to complete the program in its entirety within the course of three
years, despite having other responsibilities. After considering these factors, I realized the
benefits I would receive by completing this program would be outweighed by such costs,
therefore resulting in my decision to apply for the program.
Another example from my personal experience is deciding on property investments. This
has been a long-term goal of mine and I had finally decided that I was ready and able to
buy some property along with my partner for investment purposes. However, there were
many factors that I had to consider before making an appropriate decision mainly
deciding on our price threshold and location. We soon realized that there were various