If a College Cuts the Cost of an Education by Using

question 4

Multiple Choice

If a college cuts the cost of an education by using mostly unskilled instructors and at the same time fails to adequately educate its students, it can be said to be doing the wrong things well. In other words, the college is __________.

• A) efficient and effective
• B) efficient but not effective
• C) effective but not efficient
• D) neither efficient nor effective
• E) doing the right things

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Definitions:

Drawee

The party that is ordered to pay a draft or check. With a check, a financial institution is always the drawee.

Payee

The individual or entity to whom a payment is to be made or has been made, typically in the context of financial transactions.

Promissory Note

A written promise to pay a specified sum of money to a designated person at a fixed or determinable future time.

Debt

An amount of money borrowed by one party from another, often used for making big purchases that require immediate payment.