Phyllis Has Worked as an Interior Decorator for Twenty Years

question 40

Multiple Choice

Phyllis has worked as an interior decorator for twenty years.Lately she finds little satisfaction in her work and wants to do something she believes is more meaningful,like counsel troubled youth.If Phyllis walks away from her interior design business,what would social scientists call her?

• A)Job-hopper
• B)Voluntary career changer
• C)Self-seeker
• D)Altruistic employee

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Definitions:

Market Equilibrium

A state where the supply of a good matches its demand, with no external pressure to change the price or quantity available in the market.

Economic Profits

The difference between total revenues and total costs, including both explicit and implicit costs, representing the additional gain to entrepreneurs beyond the normal profit rate.

Accounting Profits

The financial gain calculated by subtracting total explicit costs from total revenue, according to standard accounting practices.

Industry Expansion

The growth in production, workforce, or market share within a specific sector of the economy.