Critical Thinkers Engage in Reflective Thinking

question 135

Multiple Choice

Critical thinkers engage in reflective thinking. This means that they:

• A) assume other perspectives.
• B) use their intuition to solve problems.
• C) maintain an attitude of healthy skepticism.
• D) expect and accept complexity.

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Definitions:

Short Run

A period in which at least one factor of production is fixed, limiting the ability of a business to adjust fully to changes in market conditions.

Average Variable Costs

Costs that vary with the level of output, calculated by dividing the total variable costs by the quantity of output produced.

Shutting-Down

A short-run decision by a firm to halt production because operating would lead to a loss greater than the fixed costs.

Hostages

Individuals held captive by others as security for the fulfillment of specific conditions or demands.