Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about wine, she will likely use the price of the wines as

A. an indicator of quality.
B. a measure of scarcity.
C. a reflection of status quo pricing.
D. a measure of the income effect.
E. an indicator of the variety.


Answer: A

Business

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According to Hamel and Prahalad, which of the following approaches is being utilized by a company that refuses to follow the practices and regulations set by industry leaders and finds new ways to gain competitive advantage?

A) searching for loose bricks B) changing the rules of engagement C) collaborating D) building layers of advantage

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A student discusses an issue in class with his fellow students and teacher; he then goes to the pub with his friends and he tells them about the discussion he had in class today, and they spend an hour or two discussing it again, this time with different perspectives and outcomes. All this is an example of learning through _________________.

a. Experience b. Communities of practice c. Talking d. Alcohol

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Josef has responded to product advertising that focuses on convenience, durability, and service. At which level of Maslow's need hierarchy is he most likely motivated?

a. Security b. Social c. Ego d. Self-actualization

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An abstract is longer than a summary

Indicate whether the statement is true or false

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