Answer:
The correct answer is option 4.
B. The correct answer is option 3.
Explanation:
The seaport town here became extremely popular with shipping countries due to its location. It increased the demand for docking at the port. As a result, the port became congested and ships must wait for hours. This is an example of market failure.
Here, the market is not able to efficiently allocate the product. The demand for the port is higher than what the market is able to supply efficiently.
A command economy can be defined as the economy in which the activities are controlled by any central agency, generally a government.
The Mayor instead of controlling if tries to solve the problem through the working of the market forces then it would be farthest from a command economy. If Mayor intervenes in any way then it is a command economy.
Final answer:
Congestion in the seaport town of New Monopoly exemplifies market failure. The decision to let firms and consumers find their own solution to this situation aligns with market principles rather than those of a command economy. Hence, the correct option for part A is 4 and the correct option for part B is 3
Explanation:
The situation described in the seaport town of New Monopoly, where ships must wait hours every day just to dock, is an example of market failure. Market failure occurs when the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss. Congestion is a type of market failure because it indicates that the port's infrastructure cannot handle the volume of traffic being directed towards it, therefore failing to distribute docking access properly and efficiently.
Regarding the decision that would NOT move the mayor towards a command economy, choosing to let individual firms and consumers find a solution for the excessive wait time would be most aligned with free market principles. A command economy implies government control over economic decisions such as resource allocation and production. When the mayor allows market forces to address the port congestion, he is leaning towards market solutions rather than command economy approaches.
Suppose that a worker in Country A can produce either 25 bananas or 5 tomatoes cach year. Country A has 200 workers. Suppose a worker in Country B can produce either 18 bananas or 6 tomatocs each year. Country B has 400 workers. The opportunity cost of one tomato in Country B is: Multiple Choice 18 bananas. 3 bananas. 108 bananas. 6 bananas
Answer:
The opportunity cost of one tomato in Country B is 3 Bananas
Explanation:
Banana Tomato Workers Oportunitty Cost
25 5 200 5
18 6 400 3
The opportunity cost of producing a single tomato in Country B is 3 bananas, as by producing a tomato, a worker forgoes the production of 3 bananas.
Explanation:The opportunity cost in terms of economics refers to the cost of forgoing the next best alternative when making a decision. In this case, you are looking for the opportunity cost of producing one tomato in Country B. As per the information given, one worker in Country B can produce either 18 bananas or 6 tomatoes. Therefore, for every tomato produced, they could have produced 3 bananas. So, the opportunity cost of producing one tomato in Country B is 3 bananas.
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Pat invested x dollars in a fund that paid 8 percent annual interest, compounded annually. Which of the following represents the value, in dollars, of Pat's investment plus interest at the end of 5 years?
Answer:
Pat would receive within 5 years $1.47 for each dollar invested.
Explanation:
Compounded interest is when the final capital is calculated with the interest that is paid at the end of each period over the capital plus the interest earned in the prior period.
CF=1(1+0.08)↑5
The government’s authority at all levels to ensure the health, safety and welfare of its citizens, which includes the control of public land use is the definition of ______.
Answer:
Police Power
Explanation:
According to my research on different government powers, I can say that based on the information provided within the question this is the definition of Police Power. Like mentioned in the question this is the ability that states have to regulate it's citizens behaviors and maintain order, for the health, safety, and general welfare of those citizens.
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Answer:
Law Enforcement Power
Explanation:
The government’s authority at all levels to ensure the health, safety and welfare of its citizens, which includes the control of public land use is the definition of Law Enforcement Power. However, many people know the law enforcement as police officers.
Bart tries to concentrate during a particularly difficult lecture, but finds that he is more focused on the instructor’s unique dialect and delivery style. This is an example of __________.
Answer:
Noise
Explanation:
Bart tries to concentrate during a particularly difficult lecture, but finds that he is more focused on the instructor’s unique dialect and delivery style. This is an example of _noise_.
Noise refers to anything that interferes the communication between the speaker and the audience. It can be both external as well as internal. It can disrupt the communication process at any instant.
Final answer:
Bart's difficulty in concentrating during a lecture due to the instructor's unique delivery style is a reflection of nonverbal communication affecting his ability to listen effectively. This underscores the importance of not only the message itself but also the manner in which it is delivered, which has a significant influence on student engagement and understanding.
Explanation:
Bart tries to concentrate during a particularly difficult lecture but finds that he is more focused on the instructor’s unique dialect and delivery style. This is an example of nonverbal communication affecting learning and listening. Nonverbal communication includes the various elements of speech delivery such as tone, pacing, and emphasis, which can significantly impact how the message is received and understood. It is crucial to consider not only what is being said but also how it is said. When the style of presentation or the delivery of content does not effectively engage us, our ability to listen and concentrate can be compromised, as seen through Bart's experience.
Furthermore, this situation illustrates the attention paid to speech, which can be a barrier to effective listening. The lecturer's unique dialect and delivery style have captured Bart's focus, distracting him from the core material being presented. In such cases, Bart's selective attention is directed more towards the manner of speech than the actual content, which may lead to a less than optimal educational experience.
For business combinations involving less than 100 percent ownership, the acquirer recognizes and measures all of the following at the acquisition date except: Multiple Choice
a. Identifiable assets acquired, at fair value.
b. Liabilities assumed, at book value.
c. Non-controlling interest, at fair value.
d. Goodwill or a gain from bargain purchase.
Answer:
b. Liabilities assumed, at book value.
Explanation:
International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) require everything (Assets, Liabilities and Non-controlling interest) to be measured at the fair market value, the amount a third-party would pay on the open market, at the time of acquisition — the date that the acquirer took control of the target company.
"on 19 In the economy of Wrexington in 2008, consumption was $3000, exports were $400, GDP was $5000, imports were $600, and investment was $1100. What were red Wrexington's government purchases in 2008?
a $700
b. $500
c $300
d. $1100 "
Answer:
Wrexington's government purchases in 2008 were $1100
Explanation:
GDP of an economy is measured as:
GDP = C + I + G + (X-M)
Where C is consumption, I is investment, G government purchases and X are exports and M imports. So if we simplify for G we have
GDP = C + I + G + (X-M)
GDP -C - I - (X-M ) = G
G= GDP -C - I - (X-M ) = 5000-3000-1100-(400-600)
Replacing values gives us:
G= 900-(-200) = 1100
A property is listed for sale at $235,000. A buyer's offer of $220,000 is rejected by the seller. Six months later, the seller reduces the price to $225,000. Another buyer offers $210,000, and the seller accepts because the seller has found another house to buy and needs to close quickly. The property is subsequently appraised at $215,000. Which of these figures MOST accurately represents the property's market price?A. 210,000B. 215,000C. 225,000D. 235,000
210,000 figures MOST accurately represent the property's market price. Thus option A is correct.
Who is buyer?A buyer, sometimes known as a purchasing agent, is in charge of buying products for a company. They are free to negotiate contracts with suppliers, looking into potential purchases, and taking inventory of the existing product line. 10
Consider this issue logically; even though the pricing was 235,000, it ultimately sold for 210000. As a result, the company's equity worth would increase to $200,000 Any enhanced property can be valued using the cost technique. It is the most trustworthy method for appraising special properties.
The projected land value, along with the sunk costs of the structure and other renovations, are added together using the cost model to offer a value indication. Therefore, option A is the correct option.
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A corporate manager chafes under red tape and bureaucratic regulations until finally deciding to start a separate business. The apparent reward he seeks is the satisfaction of working with people. a satisfying way of life. community service. independence.
Answer:
The correct answer is Independence.
Explanation:
The Accountant must have and demonstrate absolute mental independence of judgment with respect to any interest that could be considered incompatible with the principles of integrity and objectivity; if you are a member of a company of which you are a partner or shareholder, you will not express any opinion on financial statements in a way unless it and he are independent of said company, that is, there is no possibility of a conflict of interest that may Limit your independence.
It is understood that a person enjoys mental independence when their judgments are made based on the objective facts they examine. There is no mental independence when the opinion or judgment is influenced by subjective considerations, independent of the objective elements of the case.
In a poll, 1,003 men in a country were asked whether they favor or oppose the use of "federal tax dollars to fund medical research using stem cells obtained from human embryos." Among the respondents, 48% said that they were in favor. Describe the statistical study.
Answer:
The population in the given statistical problem is all the men in the country and the sample selected for the given study is 1003 men. Out of these men, 48% of the men were in favor of this change and 52% of the men were against the use of federal tax dollars for funding medical research study. Hence, the response given by the men were taken as a base for this study.
Which fact-finding technique can be used to obtain information about a wide-range of topics, including workloads, reports received, job duties, difficulties, and opinions of how the job could be performed more efficiently?
Answer:
The correct answer is Questionnaries.
Explanation:
The questionnaires are a series of ordered questions, which seek to obtain information from the person who answers them, to serve the questioner or both parties.
The questionnaires are often used as an evaluation technique, or as a research guide, or also to carry out surveys, where questions are asked about certain “questions” that are to be found. They are widely used in education, in Psychology, in Sociology and in market studies.
The questions must be brief, open (free to express) closed (you must choose between preset alternatives) or by combining both; precise, numbered, unambiguous, unconditional, and written in terms of language and complexity, according to age and studies or knowledge that is supposed to have the questioned.
Merideth Harper has invested $25,000 in Southwest Development Company. The firm has recently declared bankruptcy and has $60,000 in unpaid debts. Explain the nature of payments, if any, by Ms. Harper in the following situation.
a) Southwest Development Company is a sole proprietorship owned by Ms. Harper.
b) Southwest Development Company is a 50–50 partnership of Ms. Harper and Christopher Black.
c) Southwest Development Company is a corporation.
Answer:
Explanation:
1) If Southwest Development Company is a sole proprietorship owned by Ms. Harper then Ms. Harper has unlimited liability in the business which means that creditors can claim against her personal assets.
2) If Southwest Development Company is a 50-50 partnership of Ms. Harper and Christopher Black then Ms. Harper has unlimited liability in the business which means creditors can claim against her personal assets.(same like number 1)
3) If Southwest Development Company is a corporation then Ms. Harper has limited liability in the business which guarantees that Ms. Harper cannot lose more than the $25,000 she invested.
Paula is about to open a new hardware store. She is making decisions regarding lighting, colors, and layout of merchandise. Paula knows these __________ factors will influence consumers' purchase decisions.Select one:a. socialb. interpersonalc. postpurchase dissonanced. extended habituale. store atmosphere
Answer:
Store atmosphere
Explanation:
Store atmosphere -
From the question , the perfect option for the question , is the store atmosphere , as the layout of the store plays a major role in attracting the customers .
The examples of the store atmosphere are the merchandise layout , color ,
Lighting .
The atmosphere of the store , enables the customer to get influenced to buy the goods .
Paula is making decisions about lighting, colors, and layout of merchandise for her new hardware store, these are considered store atmosphere factors which significantly influence consumers' purchase decisions.
Explanation:Paula is considering various aspects such as lighting, colors, and layout of merchandise for her new hardware store. These are considered store atmosphere factors, which are essential in influencing consumers' purchase decisions.
The store atmosphere includes physical aspects of a store, layout, temperature, lighting and more, collectively creating a certain mood or environment that can significantly impact a consumer's buying behavior.
Think of it as the store's personality; if it aligns with customers' preferences, it can potentially lead to more purchases. Paula's decisions are therefore crucial in setting the tone for her store and ensuring it resonates with her target audience.
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In the post World War II period, considerable growth in total production took place in the United States. But at the same time, businesses were dumping their waste into the Great Lakes with minimal cost to themselves, significantly polluting the bodies of water as a result. This occurrence is an example where
A) real GDP gives an overly positive view of economic welfare.
B) real GDP gives an overly negative view of economic welfare.
C) investment would have been a better measure of total production.
D) the pollution counts as a final good.
Answer:
The answer is A) real GDP gives an overly positive view of economic welfare.
Explanation:
Real GDP measures the economic value of total produced goods of an economy adjusted by price levels. It takes in account consumption, investment government purchases and net exports.
However, they do not take into account externalities or negative consequences of the production of an economy. If US produced in factories that produce a lot of pollution, the GDP would capture the value of the produced goods from the factory. However it will not measure the economic consequences of pollution, damage to environment and the industries that depend in these resources. In the long run GDP could be lower if that pollution decreased the possibilities or inputs used to produce goods but in the short run GDP will give a positive view as if nothing bad was happening.
A copy machine cost $ 36 comma 000$36,000 when new and has accumulated depreciation of $ 34 comma 000$34,000. Suppose Sun Graphics and Designs CenterSun Graphics and Designs Center junks this machine, receiving nothing in return. What is the result of the disposal transaction?
Answer:
Loss of $2,000
Explanation:
As provided,
Cost of machine in both cases = $36,000
Accumulated depreciation = $34,000
Therefore, carrying value = Cost - Accumulated depreciation = $36,000 - $34,000 = $2,000
Now, since this asset is discarded as junk for $0, there will be a loss on such transaction to be recorded = $2,000
This loss shall be reported in income statement as Debit.
Further, after this transaction machine value in books shall be $0.
Journal Entry for this will be:
Loss on sale of Machinery A/c Dr. $2,000
Accumulated Depreciation A/c Dr. $34,000
To Machinery A/c $36,000
Does it make sense? Is it reasonable? Is it something consumers will get excited about? Does it take advantage of an environmental trend, solve a problem, or fill a gap in the marketplace? These are the types of questions asked during the ________ feasibility component of a complete feasibility analysis. concept organizational financial industry/target market product/service
Answer:
product/service
Explanation:
According to my research on the feasibility analysis, I can say that based on the information provided within the question these re types of questions that are asked during the product/service feasibility component. These questions need to be asked and answered in order to determine whether is a certain product is right for the company and if it will sell, which allows the company to decide whether or not to proceed to mass production.
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Final answer:
The questions posed are part of the product/service component of a feasibility analysis, focusing on the viability of a new product in the market, including assessing demand, competition, and target audience. The feasibility study incorporates other aspects such as technological, economic, legal, and operational considerations to gauge the overall project viability.
Explanation:
The types of questions asked during the product/service feasibility component of a complete feasibility analysis are concerned with whether a new product or service will sell and if it will be profitable for the company. This involves assessing if there is a demand for the new product in the market, determining if there is a target audience that will prefer this product over the competition, and ensuring that it is visible and available for purchase by the consumer. Factors such as market size, growth, trends, and saturation, as well as product differentiation and target audience identification, are crucial components of this component of the feasibility study.
In addition to product/service feasibility, a comprehensive feasibility study will also consider technological, economic, legal, operational, and schedule feasibilities to ensure the holistic viability of the project. Clearly, the feasibility study should not overlook the time and resources necessary to successfully launch the product in adherence to the technological capabilities, market trends, and organizational readiness.
Gabby and Gus Malloy recently got preapproved on a loan for their first house purchase. They are speculating on how much they should bid on their number one choice—a small, three-bedroom bungalow near a major college town. Which of the following indicators may be an important factor in whether they are able to successfully put in a low bid?
Answer:
The indicators may be an important factor will be the unemployment rate in the area
Explanation:
The federal tax rate in the that area, may no different that in other area and it can be pay if you have job, the other indicator could be is the producer price index but it can't tell you the economy as well just the productions and finally the CMI consume marginal index tell you more about life style in the zone, so that's why the indicator that is higgher influence is the unemployment rate because that determinate how many people around can pay and be able to grow economy way in the area, so t you can get return on investment
Equilibrium levels of income and interest rates are ______ related in the goods and services market, and equilibrium levels of income and interest rates are ______ related in the market for real money balances.
a. positively; positively
b. positively; negatively
c. negatively; negatively
d. negatively; positively
Answer:
D) negativity, positively
Explanation:
Equilibrium levels of income and interest rates are negatively related in the goods and services market because an equilibrium in interest and income will mean less goods and services and equilibrium levels of income and interest rates are positively related in the market for real money balances because an equilibrium in income and interest will lead to an increase in real money balances
Malory is the new marketing manager for the footwear division of her company and is currently planning next season’s product lines. She needs to gain access to data about recent purchasing patterns in the industry but has a limited budget and time. Which type of data would be the best choice for Malory to use in this situation?
Answer:
Secondary data
Explanation:
secondary data is information which has been collected in the past by someone else. For example, researching the internet, newspaper articles and company reports.
A prevalence survey conducted from jan 1st through december 31st, 2005 identified 3,460 cases of asthma in a city of 50,000 persons. The incidence rate of asthma in this population is 8 per 10,000 persons each year. What percent of the 3,460 cases were newly diagnosed in 2005?
Answer:
Rate of ashma 2015 6,92%.
it is reduced as estimated in 1,08% over population
Explanation:
City 50.000,00
Cases of Ashma 3.460,00
Rate of ashma 2015 6,92%
Rate of ashma 8%
Popultaion 10.000,00
Estimate 800,00
Estimate cases of ashma 4.000,00
Peter must inform his employees that his company will need to let go of employees. Which word would be best for Peter to use when conveying this idea to his employees?
(a). Layoff
b) Streamlining
c) Downsizing
d) Rightsizing
Answer:
The answer is: D) Rightsizing
Explanation:
Although rightsizing and downsizing are synonyms, using the word rightsizing is seen as a more polite or less dramatic way of laying off workers.
The process of rightsizing usually involves laying off workers (reducing workforce), cutting costs and rearranging top management.
The reason it sounds less dramatic and harsh is that sometimes (although very rarely) the total workforce of the company rises. The process might involve laying of people from sector A and hiring many more for sector B.
Technically this process adapts the company to new or changing market conditions.
Product costs:
- "attach" to units of product as they are purchased for resale or produced
- are always expensed in the same period in which the related products are produced
- include all costs involved in making and selling a product
- are also called inventoriable costs
Answer: Option (a) is correct.
Explanation:
Product costs are the costs that are associated with the production of a product. This is a cost that is incurred in making a product. Product cost includes direct labor cost, direct material cost, consumable supplies and manufacturing overhead. Product costs are also related to the cost of a worker or labor needed to rendered a service to a consumer.
Seabuds Corp., a company that sells canned fish, was banned from selling its products after the Food and Drug Administration (FDA) found unacceptable ingredients used as preservatives in its products. In this scenario, Seabuds most likely violated
Answer:
Administrative Law
Explanation:
Administrative Law are the norms and rules that the government agencies and companies that interact with them must follow
China produces many products at the lowest cost possible, even though Chinese consumers do not desire many of these products (e.g., football helmets). China is achieving: A) production efficiency only B) allocative efficiency only C) both production efficiency and allocative efficiency D) neither production efficiency nor allocative efficiency
Answer:
Production efficiency.
Explanation:
It's production is efficient because produces products at a lower cost that the competition.
It's not allocative efficiency, because when this happens, production represents costumers preferences.
The demand for labor depends primarily on the additional output produced as a result of hiring an additional worker and A. the additional revenue received from selling the output produced as a result of hiring an additional worker. B. the number of workers willing to produce the additional output. C. the payment made to the worker for producing the additional output. D. the elasticity of demand for the output produced by the worker.
Answer:
The correct answer is option A.
Explanation:
The demand for labor is said to be a derived demand as it is derived from the demand for products being produced using labor. It depends on the marginal productivity of labor and marginal revenue product of labor.
In other words, we can say that the demand for labor depends on the increase in the output produced due to hiring an additional unit of labor and the revenue earned from the sale of that additional output.
The demand curve of a firm is also called its marginal revenue product of labor curve. The marginal revenue product of labor is equal to the marginal product of labor times output price.
Deadweight loss occurs when
a) producer surplus is greater than consumer surplus.
b) consumer surplus is reduced.
c) an inferior good is consumed.
d) the maximum level of total welfare is not achieved.
Answer:
d) the maximum level of total welfare is not achieved.
Explanation:
When the economic efficiency bears a loss, it is termed to be a deadweight loss. This condition occurs in the situation when the free market equilibrium is not able to be achieved. It occurs in the economy when the supply and the demand for the goods and services start to fall from being in the state of equilibrium. The resources allocated experiences a deficiency, thereby causing a deadweight loss.
Deadweight loss occurs when the maximum level of total welfare, which can be achieved through optimal production and consumption in a market, is not achieved due to disruptions to the equilibrium of supply and demand. It's not specifically about consumer or producer surplus being greater, or about the consumption of an inferior good.
Explanation:Deadweight loss occurs when d) the maximum level of total welfare is not achieved. In essence, deadweight loss refers to the inefficiency in the market. It happens when the supply and demand equilibrium is disturbed, causing less than optimal production and consumption. Essentially, it represents the missed potential for total welfare in a market which can be caused by factors such as taxes, subsidies, price ceilings or floors, etc.
For instance, when a tax is imposed on a good, it increases the price paid by buyers (reducing the consumer surplus) and reduces the price received by sellers (reducing the producer surplus). This meddling with the free market equilibrium results in lesser units of the good being traded than would be in a free market, leading to a deadweight loss.
So, it's not necessarily about one surplus being greater than another (options a, b), or about the consumption of an inferior good (option c).
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Which of the following people is likely to benefit from inflation? A. A person with low income B. A person who has a large savings account C. A person who owes $200,000 on a loan D. A retired person on a fixed income
Answer: C. A person who owes $200,000
Which of the following is an example of reverse distribution in a supply chain?
a. products moved between intermediaries before reaching the customer
b. products moved from the factory to resellers
c. products moved to the factory by suppliers
d. products that are to be disposed upon being returned by resellers
e. products moved directly from producer to customer
Answer:
c. products moved to the factory by suppliers
Explanation:
Reverse logistics in the supply chain encompasses a variety of activities that go against direct logistics that follows the usual sense of the supply chain which would be manufacturer -> customer, this being inverse as follows; consumer or customer -> manufacturer or supplier.
Reverse distribution is the process involving the movement of goods from their typical final destination back to the point of origin or disposal. The correct example of reverse distribution in the provided options is when products are returned by resellers for disposal.
Explanation:The example of reverse distribution in a supply chain is d. products that are to be disposed upon being returned by resellers. Reverse distribution refers to the processes involved in moving goods from their typical final destination for the purpose of capturing value, or proper disposal. Unlike traditional distribution, which flows from producer to consumer, reverse distribution deals with the flow of goods from the point of consumption back to the point of origin or to a final disposal point.
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Taylor Company has current sales of 1,000 units, which generates sales revenue of $190,000, variable costs of $76,000 and fixed expenses of $96,000. The company believes sales will increase by 300 units, if advertising increases by $20,000. What is the change in net operating income after the changes?
Answer:
The change in net operating income after the changes by $14,200
Explanation:
For computing the change in net operating income, first, we have to compute the contribution per unit which is shown below:
Contribution per unit = Selling per unit - variable cost per unit
= $190 per unit - $76 per unit
= $114 per unit
where,
The selling per unit = (Sales revenue ÷ number of units)
= ($190,000 ÷ 1,000 units)
= $190 per unit
The variable cost per unit = (variable cost ÷ number of units)
= ($76,000 ÷ 1,000 units)
= $76 per unit
Now the change in operating income equals to
= (increased sales units × contribution per unit) - advertising cost
= (300 units × $114 per unit) - $20,000
= $34,200 -$20,000
= $14,200 increase
With the increase in advertising costs of $20,000, and an expected 300 units increase in sales, Taylor Company's net operating income will increase by $14,200.
Explanation:
The question is about calculating the change in net operating income of Taylor Company, which will occur as a result of additional advertising expenses and an expected increase in sales. We first need to calculate the contribution margin per unit (sales revenue per unit - variable cost per unit), which is ($190,000 / 1,000 units - $76,000 / 1,000 units) = $114. Next, we forecast the change in total contribution margin (increase in units sold * contribution margin per unit), which is (300 units * $114) = $34,200. Finally, we subtract the increase in advertising cost from the increase in total contribution margin to find out the change in net operating income (increase in contribution margin - increase in advertising cost), resulting in ($34,200 - $20,000) = $14,200.
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A cartoon in the text shows two people watching television. On the screen are the words "Economic growth indicators are up, led by car repairs, divorce costs, open-heart surgeries, and toxic waste cleanups." The cartoon illustrates the:
a) Difficulty in measuring social welfare.
b) Difference between GDP and national income.
c) Problem of measuring the difference in wealth between the United States and other nations.
d) Difference between GDP and NDP.
Final answer:
The cartoon illustrates the difficulty in measuring social welfare by showing economic growth indicators that may not reflect an improvement in well-being. Relying on GDP alone can be misleading when assessing social welfare. The correct option is a.
Explanation:
The cartoon in the text illustrates the difficulty in measuring social welfare. The statement on the television screen highlights economic growth indicators that may not necessarily reflect an improvement in social welfare. Car repairs, divorce costs, open-heart surgeries, and toxic waste cleanups, while contributing to GDP, do not directly measure the well-being of individuals or the overall quality of life.
The cartoon demonstrates that relying on GDP alone can be misleading when assessing social welfare. It implies that economic growth, as measured by GDP, may not always translate into an improved standard of living or overall societal well-being. Other factors like health, education, and environmental quality, which are not accounted for in GDP, should also be considered when evaluating social welfare.
Ottercut Tech, a software start-up, is putting together a new team to work on the marketing strategies for their expansion project. In the context of using the "Big Five" personality traits for effective team building, which of the following employees would be a good addition to a team that encourages a strong and harmonious culture and is most likely to give the best results?
A. Jamie is very organized; Stella is very cooperative.
B. Mary is not achievement-oriented; Issac is laid-back.
C. Both John and Adam are domineering.
D. Both Miriam and Ann are aggressive and unforgiving.
E. George is emotionally unstable; Bianca is constantly depressed
Answer:
The answer is: A) Jamie is very organized; Stella is very cooperative.
Explanation:
The Big 5 personality traits is a model used by psychologists to try to describe a person´s personality and how it affects their working behavior.
The five traits (or factors) used in this model are:
Openness: is a person curious or cautious Conscientiousness: is a person organized or careless Extroversion: is a person outgoing or prefers solitude Agreeableness: is he friendly or takes little interest on others Neuroticism: is a person emotionally unstable or secureIf you follow through this model, Jamie and Stella would be the best possible candidates for a software start-up. They show high conscientiousness, extroversion and agreeableness.
No one has all the right possible combinations of good personality traits, but with this model you try to avoid problems and facilitate team work.