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Scenario A

question 52

Multiple Choice

Scenario A. Use the information in the following list to answer the four questions that follow. Alice's Antique Jewelry is a small store that specializes in antique jewelry. In analyzing the environment, Alice has uncovered several interesting findings: 1. Alice has recently purchased more inventory than in the past. Her customers are selling most of their jewelry because their children are not interested in this type of jewelry. Also, these customers would prefer to liquidate their jewelry to help them with their daily expenses since they no longer wear most of it.
2. Alice has recently discovered that her business is in a historical preservation district so as she considers remodeling the shop, she has found she must pay attention to the guidelines set forth in the governing laws.
3. Alice's buyer-customer base seems to be changing. The tastes of the younger generation near her shop are shifting to modern jewelry so the customer base to which she sells is shrinking.
4. Alice has been told that she should investigate selling her inventory via the Internet, but she does not own (or understand how to use) a computer.
5. In reading a survey of regional business, Alice discovered that there are no other antique jewelry stores within a 200 mile radius of hers.
-Given the information in Scenario A, which of the following elements of the macroenvironment was part of Alice's findings?

Calculate labor productivity and understand its implications in economic contexts.

Grasp the concept and implications of the Production Possibilities Frontier (PPF).

Identify factors that shift the PPF and understand their economic implications.

Understand the concept of "rules of the game" in economics and their impact on productivity and economic growth.

Definitions:

Rapidly Rising Cost

A situation where the cost of goods, services, or inputs increases at a speed that is difficult to manage or predict.

Health Care Reform

involves significant changes and improvements in health care policies, systems, and practices to increase access, affordability, and quality of health care.

Patient Protection

Measures and policies designed to safeguard patients' health, safety, and rights within healthcare systems.

Health Insurance

Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured, often including services such as hospital stays, doctor visits, and prescription medications.