The Zeigarnik Effect Refers to the Fact That

question 5

Multiple Choice

The Zeigarnik effect refers to the fact that

• A)items at the end of a list are best recalled
• B)uncompleted tasks are better remembered
• C)wholes are more easily introspected than parts
• D)similar items are usually grouped together

Identify the importance of job families in streamlining recruitment and training processes.

Understand how a company's strategy impacts human resource decisions and planning.

Understand the relationship between utility maximization and consumption choices when the price of goods changes.

Apply the concept of diminishing marginal utility to budget allocation decisions involving multiple goods.

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Definitions:

Opportunity Cost

Waiving prospective gains from various alternatives by settling on one option.

Foregone Alternative

The option or course of action that is given up when another is chosen; closely related to the concept of opportunity cost.

Opportunity Cost

The charge of rejecting the following prime opportunity in the process of decision-making.

Sunk Costs

Sunk costs are expenditures that have already been incurred and cannot be recovered, and should not affect future investment decisions or operations.