Alejandro Scoobertini Owns a Store Specializing in Soccer Jerseys

question 52

Multiple Choice

Alejandro Scoobertini owns a store specializing in soccer jerseys.In 2016, he purchased $150,000 worth of jerseys from manufacturers, employed one worker for $40,000, purchased $20,000 worth of supplies from an office supply store, and sold jerseys for $280,000.Based on this information, what was the value added at Alejandro's store in 2016?

• A)$70,000
• B)$110,000
• C)$280,000
• D)$490,000

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Definitions:

Lake Wobegon Effect

The tendency for people to overestimate their abilities or achievements relative to others, named after the fictional town where all the children are above average.

Above Average

Performance or measures that exceed the normal or expected benchmark.

Group Claims

Refers to assertions or demands made by a group of individuals, often in a legal or policy context, indicating a collective interest or right.

Hindsight Bias

The tendency to perceive events as having been predictable after they have already occurred.