What are the important areas of decision making
What are the important areas of decision making?
Expert
The important areas of decision making are:
i) Selection of product. ii) Selection of suitable product mix. iii) Selection of method of production. iv) Product line decision. v) Determination of price and quantity. vi) Decision on promotional strategy. vii) Optimum input combination. viii) Allocation of resources. ix) Replacement decision. x) Make or buy decision. xi) Shut down decision. xii) Decision on export and import. xiii) Location decision. xiv) Capital budgeting.
Illustrates the Objectives of managerial economics?
Help to achive the other objectives of the firm like industry leadership,expansion implementation of policies
Explain the way of Price Elasticity of Demand.
What are the external factors in governing prices?
While an economic change creates one person worse off without influencing anyone else, this is: (w) good for society. (x) an inefficient change. (y) neither bad nor good for society. (z) strictly a macroeconomic issue. Q : Explain about leading indices Explain Explain about leading indices.
Explain about leading indices.
Workers tend to be less productive at the margin like they work along with increasingly huge amounts of: (w) physical capital. (x) personal human capital. (y) technology which makes them narrow specialists. (z) labor from other people on an assembly line.
Explain the term business cycle in brief.
Explain the welfare definition of economics? Why is it criticized?
The Black Plague which killed millions of medieval Europeans probably mainly directly and instantly resulted in: (1) Greater trust on the mercantilist economic theory. (2) Higher standards of living for survivors. (3) More positive attitudes of early Christian theolog
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