For an Economist,the Idea of Making Assumptions Is Regarded Generally

question 28

Multiple Choice

For an economist,the idea of making assumptions is regarded generally as a

• A)bad idea,since doing so leads to the omission of important ideas and variables from economic models.
• B)bad idea,since doing so invariably leads to data-collection problems.
• C)good idea,since doing so helps to simplify the complex world and make it easier to understand.
• D)good idea,since economic analysis without assumptions leads to complicated results that the general public finds hard to understand.

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Definitions:

Archie Carroll

Refers to a scholar known for his work on corporate social responsibility and the pyramid model that outlines the responsibilities of businesses.

Ethical Principles

Fundamental guidelines that dictate the conduct of individuals and organizations based on notions of right and wrong.

Disturbance Handler

A role within management responsible for addressing and solving unexpected issues or disruptions that occur within the organization.

Interpersonal Role

A set of expectations or duties one has to fulfill in relation to others within a social or work context.