$1$a$)$What are the general categories of capital budget scenarios? Please describe the overall decision$-$making context for each.

$1$b$)$Compare the process to create a business plan for a startup company and the process of creating a capital budget proposal.

$1$c$)$Define what is WACC.

$2)$Explain how changes in the economy that make investors more risk averse can affect WACC $($think cost of debt and cost of equity$)$