Terra Is the Owner of Arcadia Salon and Spa and Is

question 70

Multiple Choice

Terra is the owner of Arcadia Salon and Spa and is looking to add some new spa services. Terra interviewed her staff to get their opinions and ideas, and she invited everyone to participate in deciding which ideas to advance. Staff members were then aware of the various options and recognized the benefits and costs of each. In this scenario, involving the staff has helped people to

• A)dominate the discussion.
• B)use groupthink to gain buy-in.
• C)please everyone completely.
• D)believe in the illusion of control.
• E)understand the decisions.

Understand the basic purpose and utility of economic models.

Recognize the significance of assumptions in constructing economic models.

Differentiate between microeconomics and macroeconomics.

Comprehend the role of predictions in economic theories and models.