In economics, decisions are necessary because resources are scarce, while wants and needs are practically unlimited.
<h3>What is economic?</h3>
Economics examines how products and services are produced, distributed, and consumed as well as the decisions that people, corporations, communities, and countries make when distributing funds.
There are enormous people who are living in this world and all of them have some kind of need or want them to need to fulfill and also which means that there will be limited resources that will be available to them in the near future also.
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Answer:
Recognition of priorities
Explanation:
Management involves planning, organizing, controlling, supervising, a group of people which could be an entire team, workers or some fractions of workers in an environment to achieve organizational goals. An entrepreneur which is among the factors of production is indeed someone who manages, supervise the other factors of production, keeping an environment in which people work and achieve the goals of production.
Management is a profession and as such skill set to recognizing when some aspects of management becomes important than others and when some goals need to be given more attention to achieving the overall organizational goals can describe as Recognition of priorities.
Recognition of priorities brings some other important aspects of management into focus leaving out the less important ones cancelled or put on hold so as to save time and maximize labor efficiency.
If the price of product x rises, then the resulting decline in the amount purchased will<u> increase the marginal utility of this good.</u>
The difference in overall utility that results from consuming one extra unit of a good is known as marginal utility. Economists utilize the idea of marginal utility to estimate the quantity of a good that consumers will buy.
When the overall utility is increased by the consumption of an additional item, positive marginal utility occurs. On the other side, negative marginal utility arises when the overall utility is reduced by the consumption of one extra unit. Progressive taxation are frequently defended using the law of diminishing marginal utility.
Negative, zero, or positive marginal utility are all possible.
Hence, option B is the correct answer
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The characteristic that the manager needs to assess of the subordinate prior to delegating responsibilities is:
The type of leadership training that is being provided by the human resource director is:
<h3>What is Situational Leadership?</h3>
Situational leadership is seen when a manager delegates tasks based on the performance readiness of his staff.
The performance readiness in this case combines the ability of the person receiving the task and their willingness to execute the assigned task.
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