When an individual weighs her options and makes a choice that maximizes her benefit at the minimum cost, economists refer to this as a process of... rational decision making. You just studied 8 terms!
Answer:
c. technological advances
Explanation:
The most effective means of increasing productivity and overcoming economic crisis in the Late Middle Ages came from increasing the efficiency of workers and providing workers with better tools
Answer:
<em>c. evaluative criteria
</em>
Explanation:
Evaluative criteria are <em>when a consumer chooses a different product because of factors like value, cost, and functionality from the one they initially had in mind. </em>
It could take a little while for certain consumers to study and explore different goods before they purchase.
While some, just before they purchase, can make the decision automatically.
Answer and explanation:
Labor is one of the main factors that can drive a company to success or failure. When deciding where to locate production the labor-related factors to take into account are labor skills (<em>employees' knowledge</em>), labor costs and productivity (<em>wages and how their levels can affect employees' performance</em>), and labor laws (<em>employees' benefits according to where they work</em>).
Answer:
A: Laggards.
Explanation:
- Willingness of customers to try out new products.
There are 5 types of adapters, identified by Sociologist Evrett Roger in 1962:
- Laggards.
- Early adopters.
- Early majority.
- Category captains.
- Late majority.
Laggards: These are those customers who adopt to new ways slowly, after those ways would have become normal for the world.
- Such as malik realized the essential need for laptop lately, however the market was filled with the product.
