John Has Six Bills of Paper Money in the Following

question 32

Multiple Choice

John has six bills of paper money in the following denominations: $1, $5, $10, $20, $50, and $100 If he selects 3bills at a time what is the probability of selecting a group that has an average value of equal to or less than $25?

• A) 0.45
• B) 0.86
• C) 0.50
• D) 0.35

Recognize the significance of human and social capital in organizational contexts.

Differentiate between organizational behaviour and human resources management.

Identify the role of leadership and its traits in organizations.

Understand the impact of pay and motivation on job performance.

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Definitions:

Opportunity Costs

The expense of the best alternative given up to make a choice.

Factors Of Production

The resources used to produce goods and services. Labor and capital are examples of factors.

Increasing Opportunity Cost

Increasing opportunity cost implies that producing more of one good requires giving up an increasing amount of production of another good, reflecting resource specialization.

Consumer Goods

Products and services that are purchased for personal use or consumption.