The correct answer for this is C. Jeb should scan the article to check if the one he's looking for is in there. This way, you can efficiently use your time and lessen your hassle on reading everything what the article has to say.
In "thinking like an economist," the section "the role of economic theory" states that many economists believe that useful insights into our behavior can be gained by assuming that we act as if governed by the rules of rational decision-making.
It is possible to define rational decision-making as a decision-making process that incorporates reasoning at every stage. It is founded on the use of impartial knowledge. The first step in making a reasonable decision is to identify the issue that needs to be resolved, followed by the collection of all relevant data.
The next step is to examine every outcome that might result from each potential solution. The decision-making process that follows comprises weighing all viable options and selecting the best one based on reasoning.
Rational decision-making examples include:
● A student chooses what to study in his post-secondary education.
● A commercial choice regarding what to buy for the company.
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Answer:
B. No, because the efficiencies gained from exploiting comparative advantage generate more winners than losers.
Explanation:
Everything has its all pros and cons. When international trade takes place, people in the economy are happy, because of wide variety and options given.
Further the traders, manufacturers also tend to grow as due to competition they improve with the quality standards, designs, variations, etc:
Competition forces to excel in any kind of job you do. And that only the best players and performers stay in the market.
This is the advantage, of such international trades.
Net income increases when "revenue" increases.
<h3>What is revenue?</h3>
The overall revenue generated by a business over a predetermined period of time. This can be done by-
- The entire income generated by a specific source, such as a property with high predicted yearly returns.
- The total income a financial investment generates.
- The amount of revenue that a political entity, such as a country or state, collects and deposits into the treasury for use by the general public.
- The simplest way to determine revenue is to multiply the total number of units sold by the selling price.
- A company's earnings, or bottom line, will be lower than its sales because revenues do not take expenditures or expenses into account.
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Answer:C. reduce uncertainty about how to act in a foreign country.
Explanation: Predeparture language and culturaln training are some of the basic essential trainings conducted for expertraites who are going on overseas assignment.
THE PURPOSE OF THIS TRAININGS IS TO REDUCE THE UNCERTAINTY ABOUT HOW TO ACT IN A FOREIGN COUNTRY.
Predeparture language training is a set of training focused on the General languages Accepted in a given country where an expertraite is to be posted.
Cultural trainings are trainings that are directed at the local customs and traditions of the foreign country where an an expertraite is to be posted.