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Describe how subjectivity and other factors affect a person's calculation of cost and benefit Give an example of a cost-benefit analysis you have performed?
Subjectivity can influence a person's calculation of cost and benefit by impacting how they perceive the importance of various factors. For example, personal preferences, emotions, and biases can lead individuals to assign different weights to costs and benefits in a decision-making process. In a cost-benefit analysis I performed, I had to consider both quantitative data such as financial costs and benefits, as well as qualitative factors like environmental impact and social implications. By acknowledging and addressing subjectivity and other factors, I was able to make a more comprehensive and informed decision.
How the elasticity of demand affect managerial decisions?
Elasticity of demand affects managerial decisions because the demand of a product changes with the wrong business decision. Managers must be careful about what they choose to do with their products.
How might a foreign policy decision such as the placement of an economic sanction against another country affect U.S. citizens?
People in the US could be prevented from buying goods from a country that the US government has placed sanctions on.
What are the limitations of capital budgeting process?
Capital budgeting limitations are as follows:-It has long term implementations which can't be used in short term & it is used as operations of the business. A wrong decision in the early stages can affect the long term survival of the company. The operating cost gets increased when the investment of fixed assets is more than required.Inadequate investment makes it difficult for the company to increase its budget & the capital.Capital budgeting involves large number of funds so the decision has to be taken carefully.Decisions in capital budgeting are not modifiable as it is hard to locate the market for capital goods.The estimation can be in respect of cash outflow and the revenues or saving & costs attached which are with projects.
What do you mean by managerial economics and what is science?
Managerial economics applies economic theory and methods to business and administrative decision making. Managerial economics prescribes rules for improving managerial decisions. Managerial economics also helps managers recognize how economic forces affect organizations and describes the economic consequences of managerial behavior. It links traditional economics with the decision sciences to develop vital tools for managerial decision making. This process is illustrated in Figure 1.1. Managerial economics identifies ways to efficiently achieve goals. For example, suppose a small business seeks rapid growth to reach a size that permits efficient use of national media advertising. Managerial economics can be used to identify pricing and production strategies to help meet this short-run objective quickly and effectively
What factors affect region location decision?
What factors affect region location decision?
Why is the standard of reasonable doubt so central to the decision making process in a murder case?
Because that is the standard by which the decision will be made that will affect the defendant for the remainder of their life and may possibly, in some states, cost them their life.
Importance of research to national development?
Research is important to national development because it can help predict certain events that can affect development. Research can help with the national planning process to determine areas that can be improved and activities that need to be discouraged.
How change demographics affect marketing decision?
how domographic affect marketing how domographic affect marketing
How did people's experiences affect their decision to take sides in the American Revolution?
How did people's experiences affect their decision to take sides in the American revolution?
What are the four factors that affect tourist buying decision?
1.culture and social 2.family consideration in a situation 3.psycho buying/ 4.buying process
What ethical business behavior?
the ability and willingness to reflect on values in the course of the organization's decision-making process, to determine how values and decisions affect the various stakeholder groups
How does veto power affect congressional decision making?
any decision the president makes they can overturn it
How does the supreme court's decision in each case affect the rights of american citizen?
How does the supreme court's decision in each case affect the rights of american citizen?
What are management's roles and responsibilities in decision implementation What factors affect decision implementation How should these factors be addressed in order to assure the effectiveness of?
What factors affect decision implementation and how should these factors be addressed in order to assure the effectiveness of the decision?>your question is too long XP
Does magnetizing a seed before planting affect growth?
Seeds are not metal, therefore they cannot be magnetized, which makes this question is irrelevant.
What would one use investing software with?
By using investing software one can make an informed decision. There are several different ones and research is the key to using them. The decisions that are made by this will affect the outcome of what you are trying to achieve.
