LECTURE 1 QUIZ 1) Rational decision making involves: A

LECTURE 1

QUIZ

1) Rational decision making involves:

A. choosing the cheapest option.

B. choosing the highest quality option.

C. choosing the option that best helps you realize your goals, given your resources.

D. avoiding choices that involve scarce resources.

2. Ascarce resource

A. is always very expensive.

B. is hard to find.

C. is not something managers need to worry about.

D. has multiple uses.

3. Insurance makes transactions complex because

A. it adds parties to medical transactions.

B. different insurers have different payment rules and rates.

C. different insurers have different claim forms.

D. all of the above

4. True or False: Not-for-profit organizations are often harder to run than for-profit firms

A. True

B. False