Which Statement Is TRUE About Intuition

question 21

Multiple Choice

Which statement is TRUE about intuition?

• A) Intuition is usually logical and useful.
• B) Intuition is usually logical but not useful.
• C) Intuition is usually illogical but still useful.
• D) Intuition is usually illogical and not useful.

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Definitions:

Fixed Costs

Expenses that do not change in total despite fluctuations in the volume of goods or services produced.

Sunk Costs

Costs that have already been incurred and cannot be recovered or changed, which should not influence future business decisions.

Opportunity Costs

The value of the best alternative forgone in making any decision, representing the benefits that could have been received from that alternative.

Management

Management refers to the coordination and administration of tasks to achieve a goal, including planning, organizing, staffing, directing, and controlling organizational resources.