Making Choices on the Margin Means

question 119

Multiple Choice

Making choices on the margin means

• A) scribbling on the edges of your notebook paper.
• B) comparing all relevant alternatives systematically and incrementally.
• C) making a decision based on emotions.
• D) making decisions in the largest possible increments.
• E) taking account of all marginal benefits, all opportunity costs, and all sunk costs.

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Definitions:

Socialization Agents

Individuals, groups, or institutions that play a role in integrating and adapting members into a particular social or cultural setting.

Reality Shock

The experience of discovering that the actualities of a job or profession are not what were expected, often leading to disillusionment.

Expectancy Theory

A motivational theory suggesting that individuals are more likely to act in ways that they believe will lead to desired outcomes, based on the perceived likelihood of those outcomes occurring.

Realistic Job Previews (RJPs)

A tool used by organizations to provide prospective employees with a truthful overview of what a job entails, including both positive and negative aspects.