According to the Eight-Second Rule

question 211

Multiple Choice

According to the eight-second rule,

• A) it only takes eight seconds for someone to learn how to navigate an Internet website.
• B) any online purchase should take no more than eight seconds to complete.
• C) hunter-gatherers will not wait longer than eight seconds for a response in a chat room.
• D) more than 50 percent of online consumers will spend less than eight seconds at a portal.
• E) customers will abandon a website if download time exceeds eight seconds.

Apply the principle of marginal analysis to determine optimal levels of activity.

Understand the role of opportunity cost in comparing the value of alternate choices.

Recognize the importance of opportunity costs in resource allocation in both personal and organizational contexts.

Understand the basic concepts of motivation theories including reinforcement theory, need-based theories, and process theories.

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Definitions:

Firms

Business organizations that produce goods or offer services, typically with the aim of generating profit.

Resources

Inputs or factors that are used in the production of goods and services, such as land, labor, capital, and entrepreneurship.

Demand for Carpenters

The market need or desire for carpentry skills and services.

Wages

Payments made to employees in exchange for their labor, typically calculated on an hourly, daily, or piecework basis.