When Considering Words for Pets, the Term Australian Red Border

question 3

Multiple Choice

When considering words for pets, the term Australian Red Border Collie would be ________on the ladder of abstraction.

• A) at the top
• B) near the middle
• C) at the bottom
• D) unlisted

---

Definitions:

Rational Choices

Decision-making based on logical evaluation of outcomes and choosing the option that maximizes benefit or utility.

Inefficient Outcomes

Situations in which resources are not allocated optimally, leading to lost potential welfare or value.

First-Mover Advantage

The competitive advantage gained by the first significant company to move into a new market.

Sequential-Move Game

A strategic game where players make their decisions one after another, with later players having knowledge of previous actions.