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svet-max [94.6K]
3 years ago
15

In an economic decision making, when the inputs and outputs are fixed, the criterion to use is minimize the input.

Business
2 answers:
dedylja [7]3 years ago
8 0

Answer:

False

Explanation:

Decision making in psychology is considered as a cognitive process that results in the selection of an idea or movement from another possible option. Whether or not every decision-making process results in a move, it is definitely a final choice. To define it, decision making is determining the alternatives according to the preferences and values of the decision maker and choosing among them.

Choosing the appropriate criterion (or criterion) for choosing the appropriate alternative is an important step in making a decision.

- If a problem involves constant input among possible alternatives, the appropriate general criterion is to maximize the result. For example, a company is considering buying a new office copy machine. If the two competing alternatives have the same value (fixed input), you can select a photographer with a higher output of the corresponding criteria. The criterion may be as simple as the speed of the machine (pages per minute) or a more sophisticated criterion that incorporates the speed of the machine with the presence of some complex features.  

- İf a involves fixed output problem then the criteria is to minimize access to appropriately . For example, a company might consider installing a new elevator. Two alternate alternate load capacity, working speed and so on. If you have the same efficiency as measured, there will be a lower price (minimum entry) elevator installation.

- If no inputs or outputs are identified fixed between the alternatives, the appropriate criterion is to increase the gain (output) or simply increase the profit. For example, one of the two competing production machines, and if the cost and output rates of the machines are different, the appropriate criterion is to choose a machine with higher profitability (machine-building benefits - costs).

Tresset [83]3 years ago
3 0

Answer:

Correct answer is False for economic decision making, when the inputs and outputs are fixed, the criterion to use is minimize the input

Since, both input and output are fixed, the input can’t be decreased. Each of them has to be fixed in directive to vary the association among them. (It can be fixed contribution, or fixed production or neither one of them is fixed)

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Marginal analysis studies how individuals decide: a. whether to go to college. b. whether to live on the margin of society. c. h
Andreas93 [3]

Answer:

Correct option is (d)

Explanation:

Marginal analysis is a decision making tool used by managers to identify if an additional effort on an activity or incurring additional cost would be beneficial or yield more profits.

In other words, individuals decide on the basis of marginal analysis whether to work more or a activity or not based on the outcome. If the outcome is profitable, then the individual would choose to work harder and vice versa.

8 0
3 years ago
What is the distinction between debtor and creditor?<br>​
igor_vitrenko [27]

Answer:

A creditor is a person who lends money or extends credit to another person.  A debtor is a system or person that owes money to another orginization or party (AKA a company or individual who owes money.)

Explanation:

Hope this helps you! Good luck :)

6 0
2 years ago
Read 2 more answers
What was the penalty countries incurred for not being part of the world trade system?
lianna [129]
The penalties are:
- They won't be protected by any international organization if they're experiencing a dispute during an international trade
- They're required to pay a more expensive quota if they intended to form a trade relationship with members.
7 0
3 years ago
on july 1, 2024, a company acquired equipment. the company paid $187,500 in cash on july 1, 2024, and signed a $750,000 noninter
MAXImum [283]

$700,935 and debit discount on notes payable a working year is the correct answer among the group of choices.

<h3>What are debits exactly?</h3>

A debit is an accounting system item that demonstrates a gain in assets and a decrease in liabilities. Debits and credits are the two categories into which the entries fall in basic accounting. Debits are always offset by credit entries.

<h3>Is debit debt or credit?</h3>

A credit increases the balance in a liabilities account whereas a debit decreases it. In this manner, the credit for the loan would equal the debit for the cash on hand account, increasing the long-term debt account by the same amount.

To know more about Debit visit:

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5 0
1 year ago
Which one of the following would not cause a bank to debit a depositor's account? a.Checks marked NSF b.Wiring of the depositor'
Monica [59]

Answer: Interest earned by the account.

Explanation: When a bank debits an account money is been removed from the account. This can either be as a result of: the account owner withdrawing from the account, a cheque paid to another person, bank service charges.

While when a bank credits an account money is added to the account. It can occur as a result of : money paid into an account, bank interest paid on accounts.

Therefore interest earned on an account is credited to the account holder.

7 0
3 years ago
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