Answer: External locus of control
Explanation: There is an internal and external locus of control, and Justin has an external locus. Those people who tie their work, success or failure exclusively to their own efforts, regardless of external factors, have an internal locus of control.
Unlike them, Justin attributes his successes, or failure in this case, to external influences, specifically because of the conspiracy of three teachers to give the same due dates, and therefore he has an external locus of control. Simply put, Justin and others like him tend to blame others for their own failures. In the case of the success of people with external locus of control, this success can be attributed to luck, fate, the circumstances of the environment, and even divine intervention.
Answer:
Opportunity cost is what is given up to obtain something, or the cost of doing something instead of another thing.
The opportunity cost of leisure would be best explained as the monetary value of time spent not working, or in other words, the income that is not received when you are not working.
For example, if a person works 8 hours a day, five days a week, making $20/hour, he will earn, by the end of the week, a total of $800 dollars. However, if he decides to cut back his hours in order to go to swimming classes in the afternoon, and now works 6 hours a day, five days a week, he will now make $600 dollars, so the opportunity cost of leisure for him is $200 dollars.
Answer:
Bench-marking.
Explanation:
Benchmarking can be defined as a process of evaluating the performance of a company, it's products, services, etc with those of other competitive company's in the market. By doing so, one is able to know what areas need improvements and what can be doen to make improvement in those areas.
Benchmarking is a process of breaking down performances of other superior companies and then knowing which processes can be adopted to into the process of one's own company.
So, the correct answer is benchmarking.
The correct answer is coupons and comparative shopping.
Coupons are commodities that give consumers a saving on the purchase of an item(s) at particular stores. These coupons help individuals to save money. Comparative shopping works in a similar way. However, instead of having a physical coupon to show, consumers can compare prices of goods from different stores using resources like newspaper advertisements or online databases.
Opportunity costs and marginal benefits have nothing to do with saving money. Rather, these deal with other economic principles like choosing between different options and the additional satisfication that a person gets from consuming more of a good.
Answer:
6 packages of hot dogs and 6 packages of buns
Explanation:
The indifference curves follow the 45-degree so the ratio for the hot dog:bun will be 1:1. Each package of hot dog gives 8 hot dogs while each package of the bun gives 8 hot dog buns. The ratio of hot dog package: buns package that Sue needs will be:
(number of hot dogs every package)/ (number of buns every package) * (ratio of hot dog : bun)
8/8 * 1/1= 1
The optimal choice package ratio is 1:1, then the amount of food Sue can buy will be: 48$/ (1*$5 + 1*$3)= $48/$8= 6 package.
The optimal choice is 6 packages of hot dogs and 6 packages of buns
