Factual Information Is Presented by Lecture, Demonstration, and Rote Practice

question 361

Multiple Choice

Factual information is presented by lecture, demonstration, and rote practice in a teaching style known as

• A)open teaching.
• B)problem-based learning.
• C)direct instruction.
• D)discovery learning.

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Definitions:

Normal Profit

The minimum level of profit needed for a company to remain competitive in the market, essentially covering the opportunity costs of the business owner.

Entrepreneurial Talent

The unique set of skills, creativity, and innovation that entrepreneurs bring to create and manage new ventures.

Explicit Costs

Explicit costs refer to the direct, out-of-pocket payments made by businesses for the resources they use, such as wages, rent, and materials.

Uninsurable Risk

An eventuality for which the frequency or magnitude of potential losses is unpredictable or unknowable. Insurance companies are not willing to sell insurance against such risks.