Just Before Class, Jim Tells Stuart, "Stuart, You Shouldn't Skip

question 161

Multiple Choice

Just before class, Jim tells Stuart, "Stuart, you shouldn't skip class today because you have paid tuition to enroll in the class." Stuart ignores Jim's advice, and instead makes the decision of whether to attend based on the importance to his grade that he feels he'd be missing that day in class relative to his value of the extra time he could have to finish the video game he is playing. To an economist, Stuart is:

• A) using marginal analysis.
• B) ignoring the total value of attending class.
• C) ignoring the concept of opportunity cost.
• D) irresponsible.

---

Definitions:

Performance Indicators

Metrics used to evaluate the effectiveness, efficiency, and success of an organization's activities.

Business Strategy

A plan of action designed to achieve specific goals and objectives in the business environment.

IT System

An integrated set of hardware, software, networks, and processes that enable the processing and management of information in an organization.

Paper-based HR

A traditional human resources management approach where processes and records are documented and stored on paper.