You Are on a Vacation in a Foreign Country

question 48

Multiple Choice

You are on a vacation in a foreign country.Because it is your first visit to the country,you do not know much about the tourist spots.Therefore,you decide to ask the manager of the hotel about popular tourist places.He tells you that there is a waterfall and a beautiful park close to the hotel that you can visit.You are wondering which place to go to when you overhear some of the tourists planning a trek to one of the falls.You decide to join them.This is an example of ________.

• A) moral hazard
• B) adverse selection
• C) a pecuniary externality
• D) an information cascade

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Definitions:

Cost Of Goods Sold

an accounting term representing the direct costs attributable to the production of the goods sold in a company, including materials and labor costs.

Sales Presentations

The practice of showcasing a product or service to potential or existing customers to make a sale or reinforce business relationships.

Sales Interview

Sales Interview is a discussion or meeting between a job candidate and a potential employer to determine the candidate's suitability for a sales position.

Non-selling Times

Periods when sales activities are not being conducted, which can include planning, research, and administrative tasks.