Joe Quits His Job as an Insurance Agent and Opens

question 146

Multiple Choice

Joe quits his job as an insurance agent and opens his own sporting goods store. If his profits as measured by his accountant are greater than zero, then

• A) he made a good move because he is earning above normal profits.
• B) his economic profit must be greater than zero.
• C) his opportunity costs must be zero.
• D) There is not enough information to determine his economic profit, if any.

---

Definitions:

Social Experience

The acquisition of beliefs, values, and behaviors through interaction with others in society.

Self-Awareness

The conscious knowledge of one's own character, feelings, motives, and desires, often leading to a deeper understanding of oneself.

Self-Conscious Emotions

Emotions that involve reflection on oneself, such as guilt, shame, embarrassment, and pride, often influenced by the perceptions and judgments of others.

Temperament Classification

The categorization of individuals, often from an early age, based on their emotional and behavioral responses to their environment.