For His Work in Developing the Administrative Model to Describe

question 93

Multiple Choice

For his work in developing the administrative model to describe how managers make decisions in the real world,Herbert Simon won the Nobel Prize in

• A)medicine.
• B)economics.
• C)peace.
• D)psychology.
• E)management.

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Definitions:

Shipment Seized

Refers to the action taken by authorities to take control of goods being transported due to regulatory, legal, or security violations.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, leading to a stable market condition.

Fine

A monetary charge imposed on individuals or entities as penalty for not complying with laws, rules, or regulations, distinct from a "fine imposed" which refers to the act of levying the fine.

Marginal Cost

The escalation in aggregate cost resulting from the production of an additional unit of a product or service.