Which of the Following Situations Is an Example of a Zero-Sum

question 75

Multiple Choice

Which of the following situations is an example of a zero-sum game?

• A) Two nations trying to strengthen their diplomatic relations
• B) Two business firms deciding their terms of partnership
• C) Two players playing a single game of chess
• D) Two teams deciding on the rules of a game

Understand the kaizen concept and its impact on business productivity.

Recognize the role of Organizational Development (OD) in empowerment and problem-solving.

Identify the stages and processes involved in dealing with personal loss.

Understand OD interventions as tools for organizational problem-solving.

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Definitions:

Preferences

The individual choices or subjective evaluations consumers make regarding the satisfaction they expect from consuming goods or services.

Opportunity Cost

Missing out on potential gains from other choices upon selecting one option.

Leisure

Free time when an individual is not engaged in work or essential activities, often used for relaxation, hobbies, or cultural and artistic pursuits.

Income Effect

Refers to the change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.