it is often impossible to optain precise information about the pattern of future revenues costs and interest rates. therefore, the process of economic optimization is futile. discuss the statement.
essential diffrence between global and local optimization
it is the best use of available scarce resources in such a way that the satifaction level is maximum..so we can say minimum usage of resources and maximum level of output.
Economic optimization in a business setting involves making decisions to maximize efficiency and productivity. This can be achieved by analyzing costs and benefits to determine the most effective use of resources. Strategies such as cost minimization, revenue maximization, and resource allocation can help businesses operate more efficiently and effectively. By applying economic principles, businesses can make informed decisions that lead to improved performance and profitability.
Economic optimization problems can be effectively addressed and solved by using mathematical models and algorithms to find the best possible solution. By analyzing various factors such as costs, constraints, and objectives, economists can determine the most efficient way to allocate resources and maximize outcomes. This process involves identifying trade-offs, setting goals, and continuously evaluating and adjusting strategies to achieve optimal results.
Economic Effiency Economic Freedom Economic Security Economic Equity Economic growth and Innovation
Futile is an adjective.
Bruno Chiarini has written: 'A note on the optimization of economic policy'
Resistance is futile, human. Her wild attempts at explanation were futile.
The homonym for futile is "fetal."
Futile Sessions was created in 2005.
Resistance is futile! His heroic effort turned out to be futile, after all.
Resistance is futile! The 'hail Mary pass' was a futile attempt to tie the score in the game's final seconds.
The noun form of the adjective futile is futility.
The duration of Futile Attraction is 1.37 hours.
Futile Attraction was created on 2005-10-06.
futile - pointless, unproductive
futile = having no useful result, pointless, a bit of a waste of time so futile to deny means its a waste of time to deny or argue against eg Its futile to deny that the Earth is round or Its futile to deny her anything; she always gets her way in the end.