Explanation:
1- Techniques: Corresponds to the skills and knowledge needed to perform business operations
Commercial: These are related to the purchase, sale and exchange process.
Financial: It relates to the demand, analysis of results and management of costs and risks of a company
According to Fayol, there are still 3 more basic functions of a company, which are: security, accounting and administrative, which is related to and integrates the other five functions.
2- The policies and strategies of a company must be related mainly to its essential purpose, described in its mission, vision and values statement.
It is necessary to have a clear and possible strategic business plan, which outlines long-term plans for a company to achieve success in the market.
As a leader, it is necessary to be aware of seeking to develop policies and methods that are aligned with the organizational structure and its values, it is important to seek to create an ethical and respectful work environment for all employees, with a focus on people management and their quality of work. It is ideal to align a policy and work procedures aligned with technology that makes work easier and faster, in addition to always seeking to establish clear and well-developed communication, to create an organizational culture that favors innovation, productivity and positive results in the micro and macroenvironment.
Joe should decrease his consumption of crackers and his marginal utility from crackers will increase and also increase his consumption of cheese and his marginal utility from cheese will decrease .
<h3>What happens to marginal utility when consumption decreases?</h3>
According to the Law of Diminishing Marginal Utility, the additional utility derived from increasing consumption declines with each additional increase in consumption level.
What happens to marginal utility when consumption increases?
According to the law of declining marginal utility, when consumption rises, the marginal utility gained from each extra unit decreases, all other things being equal.
Why does marginal utility decrease as more is consumed?
- Consumers will only purchase more of a specific good if the price drops since they get less satisfaction from consuming more units of that good.
- Thus, the law of diminishing marginal value contributes to the understanding of the law of demand.
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How do the price and quantity of goat cheese change? The price of goat cheese will likely rise because there is less being produced and able to be consumed. The quantity of goat cheese is not able to be determined by the information provided in the question.
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