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Case-Based Critical Thinking Questions
Case 4-1
In PowerPoint 2016, Jake wants to change the slide background to a photo on his computer. He is walking through a tutorial given to him by a co-worker.
-Jake now clicks the _____ option button, and the task pane changes to include more commands, including commands for inserting pictures.
Resource Scarcity
A situation where resources are limited in availability and cannot satisfy all uses and desires.
Opportunity Costs
The potential benefits an individual, investor, or business misses out on when choosing one alternative over another.
Equilibrium
A state in a market where supply equals demand, meaning that there is no tendency for the market price to change unless external factors alter supply or demand.
Specializing
The process by which individuals, businesses, or countries focus on producing a limited range of goods or services, to gain a competitive advantage in terms of efficiency, quality, or cost.
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