In Economics We Learn That

question 343

Multiple Choice

In economics we learn that

• A) sometimes there is such a thing as a "free lunch."
• B) opportunity costs are all of the possible alternatives given up when we make a choice.
• C) tradeoffs allow us to avoid the problem of opportunity cost.
• D) None of the above answers is correct.

Understand the impact of geographical information on IT jobs and the necessity of being on-call or available outside standard working hours.

Understand the demographics and diversity in the IT workforce.

Comprehend the roles and responsibilities of IT managers in the systems development process.

Recognize the characteristics and requirements of remote IT jobs.

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Definitions:

Liquidation

The procedure of concluding a company's operations and allocating its resources among those who have claims.

Conservatism

An accounting principle that requires potential expenses and liabilities to be recognized immediately, but revenue only when it is ensured.

Chapter 7 Bankruptcy

A type of bankruptcy that involves the liquidation of a debtor's assets to repay creditors, under the U.S. Bankruptcy Code.

Free Assets

Assets that are not encumbered by any liens or claims, available to be used or sold freely by the owner.