An Individual Is Induced to Change His/her Occupation If

question 69

Multiple Choice

An individual is induced to change his/her occupation if:

• A)the sunk cost of the current occupation is high.
• B)the expected net gains from the alternative occupation is negative.
• C)the outlook for future income increases in the current occupation is as good as another occupation.
• D)he/she has devoted a lot of money,time and effort in the current occupation.
• E)the marginal cost of remaining in the current occupation is very high.

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Definitions:

Outsourced

The act of hiring external organizations or individuals to perform tasks, handle operations, or provide services that are either difficult to manage or are outside of the business's core competencies.

Sustainable Business

An enterprise that operates in a way that preserves or enhances economic opportunity, environmental health, and social equity for current and future generations.

Well-being

A state of comfort, health, or happiness.

Natural Environment

The physical, chemical, and biological systems and resources that exist independently of human actions.