Which of the Following Statements Is False

question 61

Multiple Choice

Which of the following statements is false?

• A)Decisions help us accomplish goals.
• B)When determining their goals, individuals generally agree on the factors they consider and the importance they attach to the various factors.
• C)Some decisions involve a small number of options.
• D)For most businesses, identifying the set of options is one of the more important tasks of management.
• E)Value is the contribution of an option to the decision maker's goals.

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Definitions:

Revenue

The earnings a company garners from its principal operations, often through selling products and services to its clientele.

Supply

The total amount of a particular good or service that is available to consumers at a given price level in a given time period.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price; high elasticity indicates sensitivity to price changes.

Supply Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity of that good or service that suppliers are willing and able to provide.