Jeremiah Owns a Ski Instruction School in the Berkshire Mountains

question 43

Multiple Choice

Jeremiah owns a ski instruction school in the Berkshire Mountains, a dog training academy in Connecticut, and an investment house in Boston.He just told Chet, one of his most promising investment managers, to run the dog academy for six months.What technique is Jeremiah using?

• A)Simulation
• B)Adventure training
• C)Job rotation
• D)Virtual reality
• E)Assistant-to position

---

Definitions:

Private Solution

A resolution to an economic issue that relies on private transactions without government intervention.

Externality

A consequence of an economic activity that is experienced by unrelated third parties.

Externalities

Economic impacts on bystanders not directly engaged, with potential for both positive and negative outcomes.

Transaction Costs

The expenses incurred when buying or selling goods and services, which can include fees, commissions, and the costs of the time and effort involved in making the transaction.