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What else can I help you with?
Is the most desirable alternative given up as a result of a decision?
the most desirable alternative given up in a decision
What is the amount of income that would result from an alternative use of cash called?
opportunity cost
What is the opportunity cost of doing or getting something?
The opportunity cost of doing or getting something is the value of the next best alternative that is foregone as a result of choosing that particular option.
What is the opportunity cost of choosing a particular option?
The opportunity cost of choosing a particular option is the value of the next best alternative that is forgone as a result of making that choice. It represents what you give up in order to pursue a certain course of action.
How critical is time in making a decision?
It depends on the situation/case at hand. If not decided on time, the result will either cause: lost of lives/love-ones or lost of opportunity/money. In both cases, the saying 'time is gold' holds true.
Is the most desirable alternative given up as a result of a decision?
the most desirable alternative given up in a decision
Which is the result when the benefits of a decision are greater than the opportunity cost of that decision?
It would be helpful to know what the decision is to know what the benefits and opportunity of the decision are. It is important to include this information.
What is the amount of income that would result from an alternative use of cash called?
opportunity cost
What is the opportunity cost of doing or getting something?
The opportunity cost of doing or getting something is the value of the next best alternative that is foregone as a result of choosing that particular option.
What is the opportunity cost of choosing a particular option?
The opportunity cost of choosing a particular option is the value of the next best alternative that is forgone as a result of making that choice. It represents what you give up in order to pursue a certain course of action.
Step in identifying the relevant costs in a decision problem?
Identifying relevant costs in a decision problem involves first distinguishing between fixed and variable costs, focusing primarily on costs that will directly impact the decision at hand. Next, it's essential to consider future costs that will be incurred or avoided as a result of the decision, rather than sunk costs that cannot be recovered. Additionally, analyzing opportunity costs—potential benefits lost when choosing one alternative over another—helps in understanding the true economic implications of each option. Finally, summarizing these costs provides a clear comparison for making an informed decision.
How does satisficing decision differ from maximizing decision?
Satisficing decision means accepting a satisfactory, or good, result. Maximizing decision means not accepting any result except the best.
What is a synonym for the word effect?
An alternative synonym for the word "effect" is "outcome" or "result."
Why is power sharing not desirable?
Power sharing may not be desirable in certain situations because it can lead to delays in decision-making, conflicts of interest, and a lack of accountability. It may also result in inefficiency and difficulties in implementing policies effectively. Additionally, in some cases, power sharing can perpetuate the dominance of certain groups and hinder the representation of marginalized voices.
What are the result of groupthink?
Groupthink can lead to poor decision-making, lack of critical thinking, conformity pressure, and suppression of alternative viewpoints. It can also result in overconfidence in the group's decisions and a failure to consider all available information. Ultimately, groupthink can hinder creativity and innovation within a group.
Is the result of a decision taken at the highest level?
no.
What is the antonym of Decision matrix?
indecision result.
