Billie Jean Has $120 to Spend and Wants to Buy

question 64

Multiple Choice

Billie Jean has $120 to spend and wants to buy either a new amplifier for her guitar or a new mp3 player to listen to music while working out.Both the amplifier and the mp3 player cost $120,so she can only buy one.This illustrates the basic concept that

• A)trade can make everyone better off.
• B)people face trade-offs.
• C)rational people think at the margin.
• D)decisions made at the margin are not particularly important.

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Definitions:

Ambidextrous

The ability to use both the right and left hand equally well or, in an organizational context, the capacity to balance exploitation and exploration activities effectively.

Virtual Organization

An organizational model that operates primarily through digital means, with team members collaborating remotely and often across diverse geographical locations.

Book Publishers

Companies responsible for the production and distribution of printed or digital books.

Modular Organizations

Organizations designed around loosely coupled, independent units or modules that can be reconfigured or replaced as needed.