John Is a Farmer and Thinks He Will Make a Profit

question 268

Multiple Choice

John is a farmer and thinks he will make a profit next year,if the weather stays the same,if the price of his crop doesn't change,and if the price of fertilizer and seed doesn't change.An economist would say that the farmer thinking he will make a profit is an example of:

• A) laissez-faire.
• B) ceteris paribus.
• C) post hoc ergo propter hoc.
• D) e pluribus unum.

---

Definitions:

Strategy

A plan of action designed to achieve a major or overall aim.

Incentive Program

A structured plan to motivate individuals or groups by offering rewards or benefits for achieving specific goals or performance benchmarks.

Service Quality

A measure of how well the service level delivered matches customer expectations, often evaluated in terms of reliability, responsiveness, assurance, empathy, and tangibles.

Direct Leadership

A leadership approach where the leader interacts with followers directly, providing clear instructions, guidance, and feedback.