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Kaylis [27]
2 years ago
10

Indicate whether each of the following examples of behavior is consistent with the utility-maximization framework of traditional

economics or is better explained by concepts developed by behavioral economists
Business
1 answer:
KatRina [158]2 years ago
6 0

The examples are given below:

  • There are people who pursue a degree in theater rather than science, even though scientific careers are usually much higher-paying.= Consistent with the Predictions of Traditional Economic Models

  • Some people care about how much money they make relative to other people rather than their absolute level of income.= Reserved for Behavioral Economics

  • Some people would be willing to make a large sacrifice in order to help a loved one.= Consistent with the Predictions of Traditional Economic Models

  • Some people treat $75 they earn differently from $75 they receive as a gift.= Reserved for Behavioral Economics

What is meant by Behavioral economics?

Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that most people have well-defined preferences and make well-informed, self-interested decisions based on those preferences.

What are behavioral economic strategies?

Behavioural economics aids marketing strategies by understanding how consumer decisions can be influenced. As a result, making small changes to the product, the branding or the choices you offer can massively influence consumer behaviour.

Learn more about behavior:

brainly.com/question/21711827

#SPJ4

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Answer:

frictional unemployment created by sectoral shifts.

Explanation:

This unemployment is generated because the information between vacancies for the labor force is imperfect. People study and prepare to be dental hygienists or bookbinders without information for the total amount of vacancies that will occur. This frictional unemployment will decrease once the labor force adjust for the demand changes in the jobs. Because the shortage, the salaries for dental hygienists will increase and more people will start studies for dental hygienists. The opposite will occur with the bookbinders job, the decrease in the demand will lower the wages and less people will dive into.

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1. When Heidi Ganahl talks with franchisees about performance expectations and measurements, what part of the management process
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Answer and Explanation:

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Heidi, before the new franchise is created, will have to clarify the performance standards and metrics. It will need to include detailed, but easy-to-understand plans, involving strategic planning, to ensure continuity between the new owner and the entire franchise.

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You currently have a​ one-year-old loan outstanding on your car. you make monthly payments of $ 400$400. you have just made a pa
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<span>If I have a one year loan outstanding on my car and make monthly $400 payments, my timeline would include twelve equal payments of $400 starting now. The bank's timeline would be the same twelve equal installments of $400 but they would be cash inflows since I am paying the money to the bank. I would consider the $400 a cash outflow.</span>
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3 years ago
The company Lucy works for is made of cross-functional teams that focus on the project at hand. The projects they get are extrem
liberstina [14]

Answer:

Small batch and unit production.

Explanation:

Small batch and Unit production -

In this type of production , the primary focus of the organisation , is the satisfaction of the customer and is based on the preference of the customer .

For this type of manufacturing process , skilled labor and planning is very important to customize and prepare any good or service .

sometimes , the complete team focus on the production of the product one at a time , with lot of caution .

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Answer:

All of the above

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This organization has issued the standard ISO 15118 (1-9) that gives technical recomendations about data communication interfaces for road vehicles. So, both concepts listed above are true.

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3 years ago
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