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Selection and organization are the key words in the definition of perception.

1. According to Learning from Experience: Jim Sinegal, the cofounder, president, and CEO of Costco Wholesale, think shareholders are best served if the company does all it can to hold down costs, including the costs of labor.

ANS: F

Many executives think shareholders are best served if they do all they can to hold down costs, including the costs of labor. Costco’s approach is different, in terms of how employees are treated. Sinegal says, “It absolutely makes good business sense. Most people agree that we’re the lowest-cost provider. Yet we pay the highest wages. So it must mean we get better productivity. It’s axiomatic in our business—you get what you pay for.”

2. According to Learning from Experience: Jim Sinegal, the cofounder, president, and CEO of Costco Wholesale, says that one of his cardinal rules is that no branded item, such as a Xerox printer, can be marked up by more than 14 percent and no private-label item, such as Costco gasoline, by more than 15 percent.

ANS: T


3. People base their behaviors on what they perceive reality to be, not necessarily on what reality is.


ANS: T

4. Observation is the process by which people select, organize, interpret, and respond to information from the world around them.

ANS: F

Perception would make the statement correct


5. Selection and organization are the key words in the definition of perception.

ANS: T
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