The First Job Upon Graduation, You Search for a Job with the University's

question 47

Multiple Choice

The First Job
Upon graduation, you search for a job with the university's job placement centre.Although you have studied and prepared to work in an advertising agency, the first job that you are offered is a supervisor in a manufacturing company working the afternoon shift from 3:00 pm until 11:00 pm.
-Refer to The First Job (Scenario) .If you had made a larger search using the internet and other employment search processes, you might have been able to find more employment opportunities.This would have been a more ________ decision-making process.

• A)non-programmable
• B)uncertain
• C)risky
• D)perfectly rational
• E)cognitive based

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Definitions:

Total Utility

The total satisfaction received from consuming a particular quantity of a good or service.

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can purchase with a given income and prices of the goods.

Money Income

This term describes the total earnings received by an individual or household, including wages, salaries, and other forms of monetary income.

Substitution Effect

A phenomenon where consumers replace a more expensive item with a cheaper alternative when the price rises.