Jill, an Economics Student, Has Already Spent 5 Hours Cleaning

question 79

Multiple Choice

Jill, an economics student, has already spent 5 hours cleaning her room. In deciding whether or not to continue cleaning for another hour, she applies the economic principle of

• A) scarcity.
• B) ceteris paribus.
• C) choosing at the margin.
• D) productivity.

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Definitions:

Strategic Planning

The process of defining a company's direction and making decisions on allocating its resources to pursue this strategy.

Internal Strengths

Unique capabilities within an organization that provide it with a competitive advantage in its industry.

Good Management

The practice of effectively and efficiently leading and organizing resources, including people, to achieve the goals of an organization.

Good Organization

A well-structured entity with efficient processes, clear objectives, and effective communication among its members.