Elena Is Trying to Decide Whether She Should Expand Her

question 68

Multiple Choice

Elena is trying to decide whether she should expand her ice cream shop to a bigger space. She decides to be very methodical about it and follow the phases of the decision-making process she learned in college. Which of the following statements is true?

• A) During the intelligence phrase, Elena will build a model using assumptions about the business.
• B) During the design phrase, Elena will define the opportunity.
• C) During the choice phase, Elena will lay out her options.
• D) During the implementation phase, Elena will implement two of her solutions.
• E) Elena will use test data to validate her model.

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Definitions:

Excludable

A characteristic of a good or service that allows the owner or provider to prevent others from using it without permission.

Rival

A characteristic of a good or service that implies its consumption by one individual prevents simultaneous consumption by another individual.

Public Goods

Public goods are commodities or services that are provided without profit to all members of a society, either by the government or a private individual or organization.

Private Goods

Goods that are both excludable and rivalrous, meaning only those who pay for them can use them, and one person's use of the good reduces others' ability to use it.