Mimi Gets a Job Twenty Miles from Her House and Purchases

question 30

Multiple Choice

Mimi gets a job twenty miles from her house and purchases a new car to commute. As a result of this new expense, Mimi decides to sell her season tickets to the local football stadium. Mimi's situation can be described as:

• A) ignoring sunk costs.
• B) a trade-off.
• C) irrational decision making.
• D) a normative choice.

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Definitions:

Positive Consequences

These are favorable outcomes or results that occur as a direct result of a particular action or set of actions.

Negative Consequences

Undesirable outcomes or effects that result from an action or decision.

Card Sort

A method used in counseling or research, where individuals sort cards into categories as a way to explore preferences, values, interests, or psychological traits.

Occupations

Various kinds of jobs or professions where individuals engage in specific activities to earn a living or contribute to the economy.