Case-Based Critical Thinking Questions Case 4-1 Savannah Is Learning About

question 31

Multiple Choice

Case-Based Critical Thinking Questions Case 4-1 Savannah is learning about different types of storage devices. She has many files on her computer. Savannah has some very important files she wants to keep safe for a very long time. She decides to store these files on a(n) ____, the storage media that currently has the longest life expectancy.

• A) DVD
• B) flash drive
• C) external hard drive
• D) floppy disk

Grasp the significance of innovation in business growth.

Identify the behaviors and characteristics common among successful entrepreneurs.

Recognize the challenges and advantages of self-employment and starting a new business.

Acknowledge the unpredictability of entrepreneurial success based on personal characteristics alone.

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Definitions:

Variable Cost

Costs that change in proportion to the level of production or sales, such as materials and labor directly involved in manufacturing.

Marginal Cost

The increase in cost resulting from the production of one additional unit of a good or service.

Fixed Input

An input whose quantity is constant and cannot be changed in the short run.

Short Run

A period in economics during which some factors of production are fixed, limiting the ability of a business to fully adjust to market changes.