--%>

What are the important areas of decision-making

What are the important areas of decision-making?

E

Expert

Verified

Following are the important areas of decision making;
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.

   Related Questions in Managerial Economics

  • Q : Opportunity costs of purely financial

    By a purely financial perspective, you must stop going to school while you: (w) graduate from college. (x) have to take out educational loans at interest rates which exceed the inflation rate. (y) face opportunity costs of education exceeding the expe

  • Q : Labor demand increases and supply

    Wages tend to increase while labor demand: (w) and supply both decrease. (x) decreases and supply increases. (y) and supply both raise. (z) increases and supply decreases. Please choose the right answer from above.

  • Q : Maximizes profit by hiring labor A firm

    A firm maximizes profit through hiring labor at the point where labor’s: (1) marginal physical product equals its average physical product. (2) marginal revenue product equals its marginal resource cost. (3) rate of exploitation is greatest. (4)

  • Q : Illustrates the plethora of definitions

    Illustrates the plethora of definitions regarding subject matter of economics?

  • Q : Huge parts of the enormous incomes

    Huge parts of the enormous incomes earned through some gifted athletes and performers are pure economic: (w) wages. (x) profits. (y) interest. (z) rents. Hello guys I want your advice. Please recom

  • Q : Costs of investing in human capital The

    The costs of investing in human capital are probably to be borne through an employer when the human capital is: (1) general. (2) marginal. (3) precise. (4) generic. (5) specific. Can someone explain/help me with be

  • Q : Define naive method and its techniques

    Define naive method and its techniques briefly.

  • Q : Explain the Exceptional Demand Curve

    Explain the Exceptional Demand Curve.

  • Q : Explain the aspects of operational or

    Explain the aspects of operational or internal issues.

  • Q : Costs and revenue verses Quality

    Refer to figure as in above. What occurs when the firm produces more than Q4 units: w) Its profit raises. x) this makes a loss. y) Its total revenue is increasing quicker than its whole cost. z) this could make a profit or a loss depending upon what occurs