Answer to Question 1
A
Answer to Question 2
Applied business research is conducted to address a specific decision for a specific firm or organization. It is relatively specific, and an example is Wendy's fast food restaurant trying to determine if its new veggie burger will be successful or a company's human resource manager researching which insurance benefits will attract the best employment candidates.
Basic business research is conducted without a specific decision in mind, and it usually does not address the needs of a specific organization. It attempts to expand the limits of knowledge in general, and as such is not aimed at solving a particular pragmatic problem. For example, a researcher might study the effects of CEO age on initial public offering (IPO) valuation.
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economic question