--%>

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 : Explain the cost function in briefly

    Explain the cost function in briefly.

  • Q : Limitation for using illustrations of

    Illustrations of economic capital would NOT contain: (i) an accountant's computer. (ii) 1,000 shares of stock within Google. (iii) a sixteen-pound sledgehammer. (iv) tires upon an eighteen-wheeler truck. (v) paper into the printer of a romance novelis

  • Q : Labor Force Participation In the United

    In the United States throughout the past 70 years or therefore, the: (1) amount of human capital per worker has fallen. (2) labor force participation rate of women has risen. (3) supply of labor has consistently grown faster than the demand. (4) real rates of return f

  • Q : Economic incidence of a tax imposing

    The economic incidence of a tax: (i) identical to its legal incidence. (ii) either forward-shifted to suppliers or backward-shifted to consumers. (iii) imposed on whoever suffers decreased purchasing power because of the tax. (iv) more easily found th

  • Q : What are the certain assumptions in

    What are the certain assumptions in production functions?

  • 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

  • Q : Example of an investment in human

    A government-supported literacy program provided from a firm which primarily employs unskilled labor is an illustration of an investment in: (1) human capital depreciation. (2) business paternalism. (3) specific training. (4) laissez-faire economics.

  • Q : What are the Methods of Demand

    What are the Methods of Demand Forecasting?

  • Q : Income effect of increase wage When the

    When the income effect of a wage raise is more powerful than the substitution effect, in that case the:  (i) labor supply curve will be “backward bending.” (ii) unemployment rate will rise since more people will be av

  • Q : Forecasting demand what are the

    what are the criteria for good forecasting