Reggie is in the analysis stage. He is checking in on his results and evaluating the outcome from his rebates. The rational decision making process is a process for making a decision based on a one or more alternative outcomes. This allows someone to make a rational decision based on facts and logic rather than on a whim.
Answer: (C) Environmental scanning
Explanation:
The environment scanning is one of the type of information gathering process that helps maintain the relationship in an organization.
The main objective of the environment scanning is that it determine the actual future direction of the company as it helps in identifying the threats, strength, opportunities and the weakness of an organization.
According to the given question, the environment scanning plays an important as helps in collecting the data from the secondary sources like the government, business and the trade.
Therefore, Option (C) is correct.
Buffer of inventory can absorb variations in flow rates by acting as a source of supply for a downstream step.
<h3>
What is a buffer?</h3>
- In manufacturing, a buffer is used to account for fluctuations in the production process. Consider a buffer as a means to guarantee that your production line will continue to function normally even if unexpected circumstances arise.
- Having enough supplies on hand to ensure smooth operations is one example of a buffer in manufacturing. To help stabilize any fluctuations they encounter with their supply and demand chains, production capabilities, and lead times, manufacturers will often keep inventories of the raw materials and supplies needed for production on hand, as well as occasionally inventories of finished goods awaiting shipment.
- Without the proper buffers, manufacturing procedures may sluggish, which would result in more costs and lower profitability.
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Answer:
The correct answer is lower.
Explanation:
The theory of rational expectations is a hypothesis of economic science that states that predictions about the future value of economically relevant variables made by agents are not systematically wrong and that errors are random (white noise). An alternative formulation is that rational expectations are "consistent expectations around a model," that is, in a model, agents assume that the predictions of the model are valid. The rational expectations hypothesis is used in many contemporary macroeconomic models, in game theory and in applications of rational choice theory.
Since most current macroeconomic models study decisions over several periods, the expectations of workers, consumers and companies about future economic conditions are an essential part of the model. There has been much discussion about how to model these expectations and the macroeconomic predictions of a model may differ depending on the assumptions about the expectations (see the web's theorem). To assume rational expectations is to assume that the expectations of economic agents can be individually wrong, but correct on average. In other words, although the future is not totally predictable, it is assumed that the agents' expectations are not systematically biased and that they use all the relevant information to form their expectations on economic variables.