Answer:
True
Explanation:
A buisness customer records every transaction to see how the transaction was
In "thinking like an economist," the section "the role of economic theory" states that many economists believe that useful insights into our behavior can be gained by assuming that we act as if governed by the rules of rational decision-making.
It is possible to define rational decision-making as a decision-making process that incorporates reasoning at every stage. It is founded on the use of impartial knowledge. The first step in making a reasonable decision is to identify the issue that needs to be resolved, followed by the collection of all relevant data.
The next step is to examine every outcome that might result from each potential solution. The decision-making process that follows comprises weighing all viable options and selecting the best one based on reasoning.
Rational decision-making examples include:
● A student chooses what to study in his post-secondary education.
● A commercial choice regarding what to buy for the company.
To know more about decision-making refer to:
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The level 2 topic would become the first level bullet item. (OPTION A)
Reason: The level 1 would become the slide titles and the level 2 would become the first level bullet items in the slide and the level 3 would become sub bullets or the second level bullet items and so on
So to conclude, the level 2 would become first level bullet item
Answer:
The answer is: A) A decrease in the price of paper used to make greeting cards.
Explanation:
In normal market conditions, an increase in the equilibrium quantity of greeting cards means that the quantity demanded and the quantity supplied of greetings cards increased. Usually an increase in the quantity supplied will result in an increase of the price of the good or service. But on this specific case something else made the price of the cards decrease. The only one of the four possible options that can explain an external cause for a decrease in the price of greetings cards, is a decrease in the price of paper used to manufacture them.
Answer:
D: Optimum Order size
Explanation:
Economic Order Quantity (EOQ) is a formula applied in logistic and supply chain management to calculate a business's ideal order size. As the name suggests, the order EOQ provides an order quantity that makes economic sense.
Economies of scale suggest that a bigger order size is better because the business will save transport costs. However, ordering in large quantities increases the cost of holding stock. The economic order quantity strikes a balance between these two important factors.
