When a Student Chooses to Study Instead of Going Out

question 2

Multiple Choice

When a student chooses to study instead of going out with friends,he is engaged in

• A) problem solving.
• B) decision making.
• C) satisficing.
• D) bounded rationality.
• E) optimization.

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Definitions:

Limited Liability

A legal structure that limits the personal financial risk of the business owners, protecting their personal assets from the debts and liabilities of the business.

Sole Proprietorship

A business owned and operated by a single individual, with no distinction between the business and the owner.

Closely Held Corporation

A type of company that is owned by a small group of people who are usually closely associated with the business.

Publicly Trades

Pertains to companies whose shares are bought and sold on stock exchanges, allowing investors to purchase ownership interests in the businesses.