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ch02sm - Chapter 2 Economic Decision Making SOLUTIONS TO...

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Chapter 2 Economic Decision Making SOLUTIONS TO APPLY WHAT YOU HAVE LEARNED 2-33. a. The extrinsic rewards of Fred’s work are the money received ($10 per hour) and the possibility of recognition by others. His intrinsic rewards are the personal satisfaction of working with the children and the professional experience gained in the process. b. Considering Fred’s interest in possibly working with developmentally-challenged children as a career, the intrinsic rewards are almost certainly of more value than the extrinsic rewards of $10 per hour and any possibility of recognition by others. 2-34. 1. R An employee calls in sick 2. R An employee makes a mistake in adding his travel claim 3. R Five dollars is missing from the petty cash fund 4. N The petty cash fund and the petty cashier are missing 5. R A vendor bills the company for 25 items and only 24 are received 6. N A vendor bills the company for 25 items that are neither ordered nor received 7. R The company’s delivery person taps the bumper of a car while parking 8. N The company’s driver totals the delivery van in a one-vehicle accident 9. N The building loses its roof in a tornado 10. *R/N The building suffers extensive hail damage in a storm 11. N An employee fails to return from lunch * This would depend on the geographic location and its tendency to receive hail damage. Chapter 2 – Economic Decision MakingF-12
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2-35. The intuitive and the systematic information-processing styles are similar in that all people use both of these ways of thinking to some extent. Intuitive thinkers are “big picture people” who enjoy solving problems by looking at the overall situation, exploring many possible solutions, and making their decision based on gut instinct. They tend to prefer nonroutine situations and enjoy rapidly changing environments. Systematic thinkers are “detail” people who prefer to solve problems by careful analysis, breaking the problem into its component parts. They prefer an environment that allows them to think methodically. The two styles are similar because they are both effective ways to solve problems, and all people use both ways of thinking to some extent. 2-36. 1. I You need a designer for your dream home. 2. S You need a contractor to build a warehouse. 3. S You need an engineer to plan a highway system in a wilderness area. 4. S You need an engineer to design a five-mile expansion bridge. 5. I Two employees have a serious, ongoing conflict. You need to refer them to a mediator. 6. S Your business has serious financial problems that must be solved within one week. You need to hire a consultant. 7. I You are a systematic thinker and you need a partner. 8. I You need an advertising consultant to promote a new product. 2-37. a. No, the real problem is that Kathy is in Paris but she needs to be in New York for dinner. Any time fussing over sleeping in is wasted.
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