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Critical Thinking Questions Case 6-2 as the Administrative Assistant to the Owner

question 14

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Critical Thinking Questions Case 6-2 As the administrative assistant to the owner of a small business that collects and then resells Civil War memorabilia, you are assigned the task of developing a new electronic form to be added to the store's current static Web site. The purpose of the form is to gather information from potential suppliers and customers. What are your primary considerations as you design the form? ____


Definitions:

Utility Maximization

An economic principle where consumers attempt to get the greatest satisfaction possible from their available resources.

Demand Schedule

A table of numbers showing the amounts of a good or service buyers are willing and able to purchase at various prices over a specified period of time.

Utility Maximization

Utility Maximization is the economic principle that individuals or firms seek to achieve the highest satisfaction or benefit from their resources.

Marginal Utility

The extra contentment or usefulness experienced by consuming one more unit of a good or service.

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