A Business Student Is Preparing for the Graduate Management Admission

question 146

Multiple Choice

A business student is preparing for the Graduate Management Admission Test (GMAT) so he can get into a good graduate business school.He knows that any money he spends on a tutor will be worthwhile if he can improve his scores.He's heard that there is a great tutor in his local community but has no idea who she is.Marketing does not occur in this situation because

• A)two or more parties have unsatisfied needs.
• B)there is no desire on the part of either party to satisfy its needs.
• C)neither of the involved parties has the ability to satisfy its needs.
• D)there is no way for each party to communicate with one another.
• E)there has been no assessment of consumer wants and needs.

Apply discount rates to evaluate and compare different cash flow streams.

Understand the implications of interest compounding frequencies on savings and loan scenarios.

Understand the fundamental concepts and historical roots of different schools of psychology.

Recognize the methodological approaches used by various psychological perspectives.

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Definitions:

Economics

The social science that studies how individuals, businesses, governments, and societies make choices about allocating resources to satisfy their wants and needs.

Medicare

A federal health insurance program in the United States for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease.

Medicaid

A health care program that assists low-income families or individuals in paying for long-term medical and custodial care costs.

Equal Distribution

The process of dividing or spreading something out evenly among multiple recipients or areas.