Explanation:
economics of scale can be defined as the growth of a firm as a result of the expansion of the volume of productive capacity resulting in the increase in output and a decrease in its cost of production per unit of output
Philosophical examination, from a moral standpoint, of particular marketing issues that are matters of moral judgment.
Answer:
The model defines how people should ideally make decisions.
Explanation:
A positive statement can be defined as any statement that is typically based on empirical evidence and as such can be tested, proven and verified. Also, a positive statement can be amended or rejected based on evidences that are available.
On the other hand, a normative statement can be defined as any statement that can't be tested, proven or verified because it is judgmental and based on opinions.
The classical model of decision making is a strategic process which assumes that managers (decision makers) are well furnished with large amounts of information and as such are able to practically process the information for decision making.
When the classical model of decision making is said to be normative, this means the model defines how people should ideally make decisions.
Answer:
task environment
Explanation:
In simple words, task environment refers to the parties that are involved in the activities of the organisation which can affect that organisations goals and objectives.
In other words, task environment can be termed as the group of all the stakeholders effecting and getting effected by the business activities of an organisation. Competitors, labor force, suppliers and customers are some of he many example of constituents of task environment.
Answer: 80% = 0.8
Explanation:
The following can be gotten from the question:
Cu = Shortage cost
Co = Excess cost
Since the shortage cost is four times excess cost. This will be:
Cu = 4 × Co
Cu = 4Co
Therefore, Co = 1/4Cu = 0.25Cu
The optimum service level will then be calculated as:
= Cu / (Cu + Co)
= Cu / Cu + 0.25Cu
= Cu / 1.25Cu
= 1/1.25
= 80%
= 0.8