(d) health, because it can be used in different ways
Answer:
The correct answer is option C.
Explanation:
The decision-making process followed by consumers assumes that consumers are rational beings who are trying to maximize their satisfaction using their limited income.
So these consumers will consume the good or combination of goods that maximize their total utility derived from the consumption of these goods.
The consumers have limited income, they are aware of the marginal utility they derive from the consumption of an additional unit and they are also able to rank their preferences.
Answer:
Explanation:
People who want to obtain credit goods services from financial institutions can use their economic political property rights to do so.
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Answer: True, this process is the controlling of managerial function
Explanation: Being manager of a large retail chain, means she has a lot of work to do. It requires her as a manager to set goals and make sure they are achieved. When she noticed the underperforming in two stores, she sets a meeting with the manager so as to come up with a corrective action to the underperforming stores. By her doing that, she has done controlling of managerial function.
<u>Joshua is right because fixed costs are unavoidable but marginal costs are not.</u>
<u>Explanation</u>:
Decision making plays an important role while considering the development of the organization. The officials in the company should act smartly in making decisions during crucial situation.
<u>Marginal cost </u>is the cost added to the total cost while producing additional units. <u>Fixed cost </u>is the cost of the product that does not change with the increase or decrease in the quantity of the products.
In the above scenario, Jasmine and Joshua were discussing about the cost of the products that are produced in their manufacturing plants. They were discussing about the marginal cost and fixed cost.
