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Best Student Essays

The following are the best student answers for the Spring 2000 Midterm # 1 Essays. These essays, written by different students, received full credit.

Essay (10%):

20. Discuss the importance of correctly identifying an organizationís cost drivers. In discussing cost drivers, you may want to address the following: (1) the cost driver concept; (2) the negative consequences associated with misidentifying cost drivers; (3) the benefits of correctly identifying cost drivers. Be specific and concise, no credit will be given for wordy answers not addressing the question directly (i.e., B.S.). A short and concise essay dealing directly with the question may receive more credit than a long-drawn out answer that says the same thing. Stay within the allotted space!

21. Extra-credit (Up to 5% given very sparingly!)

Explain the behavioral tendencies many people show when they encounter opportunity and sunk costs. Be specific, concise and include definitions of opportunity and sunk costs. No credit will be awarded for wordy answers not directly applicable to the question. Stay within the allotted spaceóno more!