What is a common mistake that small-business owners make when their businesses begin growing?
A. They sell more goods and services.
B. They put too much money in advertising.
C. They move beyond their local area.
D. They overexpand without proper planning.
E. They invest too much of their own money.
Answer: D
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According to the factor-endowment theory, which factor is the ultimate determinant of comparative advantage?
a. productivities of labor inputs b. tastes and preferences among nations c. changes in technologies over time d. relative differences in resources
Answer the following statements true (T) or false (F)
1. Personality plays a role in decision-making. 2. How decisions are framed will not affect the decisions that are made. 3. Losses weigh more heavily emotionally in decision-making than an equivalent gain. 4. System 1 thinking requires mental effort, including complex calculations.
A code of ethics refers to
A. the written document stating the beliefs and values of each employee in a firm. B. an informal guide of ethical principles and moral conduct. C. a formal statement of moral and ethical business attitudes. D. a firm's itemized list of business activities that are and are not consistent with the company's mission statement. E. a formal statement of ethical principles and rules of conduct.
Which of the following situations results in an infeasible transportation model?
a. When the total supply for the product generated by all sources equals the total demand consumed by all destinations b. When the total supply for the product generated by all sources is greater than the total demand consumed by all destinations c. When the total supply for the product generated by all sources is less than the total demand consumed by all destinations d. None of the above