In the 1930s,behaviorist Edward Tolman Committed Virtual Heresy Among His

question 278

Multiple Choice

In the 1930s,behaviorist Edward Tolman committed virtual heresy among his colleagues by noting that:

• A)operant conditioning principles cannot account for superstitious rituals.
• B)when his rats ran a maze,they seemed to pause to decide which way to go.
• C)irrational fear of heights cannot be explained through principles of classical conditioning.
• D)when his rats were on continuous reinforcement schedules,they were very resistant to extinction.

Understand the impact of income on demand for normal and inferior goods.

Understand the components and utilization of the BCG portfolio planning model.

Identify specific strategies appropriate for each category (Dogs, Question Marks, Stars, Cash Cows) in the BCG Matrix.

Differentiate between various business growth strategies such as concentration, diversification (related and unrelated), integration (forward, backward, vertical), and retrenchment.

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Definitions:

Sales

The total revenue a company generates from selling goods, services, or both, within a specific period.

Average Collection Period

The average amount of time it takes for a company to receive payments owed by its customers for goods or services sold on credit.

Income Statement

A financial statement that shows a company's revenue and expenses over a specific period, leading to net profit or loss.

Balance Sheet

A financial statement summarizing a company's assets, liabilities, and shareholders' equity at a specific point in time.