The Phrase "Business Model" Refers to How a Business Will

question 30

True/False

The phrase "business model" refers to how a business will operate and how it intends to make a profit.

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Definitions:

Praxis

The process by which a theory, lesson, or skill is enacted or practiced, particularly in a real-world context.

Deliberate System

A cognitive process involving conscious, controlled, and thoughtful consideration and decision-making.

Automatic System

Refers to cognitive processes that occur with little or no conscious effort, responsible for quick and intuitive decisions.

Duplex Mind

The concept that the human mind operates through two systems: one that is fast, automatic, and emotional, and another that is slow, deliberate, and logical.