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What explains why the game of economics is about setting goals as much as it is about making allocation decisions?
There are different and incompatible economic goals.
What best explains why goals are nescessary for making allocation decisions?
The available resources cannot be used to pursue every goal that each individual has.
Which best explains why the game of economics is about setting goals as much as it is about making allocation decisions?
There are different and incompatible economic goals.There are different and incompatible economic goals.different people want different things out of life.
What is the difference between constant opportunity cost and increasing opportunity cost, and how does this impact decision-making in resource allocation?
Constant opportunity cost refers to a situation where the cost of producing one more unit of a good remains the same. Increasing opportunity cost occurs when the cost of producing one more unit of a good increases as more units are produced. In decision-making for resource allocation, constant opportunity cost allows for easier decision-making as the trade-offs remain consistent. On the other hand, increasing opportunity cost makes decision-making more complex as the trade-offs become more significant with each additional unit produced. This can lead to more careful consideration and evaluation of resource allocation decisions.
What is allocation financial resources?
Allocation of financial resources refers to the process of distributing available funds among various uses or projects to optimize returns and achieve specific goals. This involves assessing the needs of different departments or investments, prioritizing them based on strategic objectives, and making informed decisions about where to invest money. Effective allocation ensures that financial resources are used efficiently, maximizing benefits while minimizing waste. Ultimately, it plays a crucial role in budgeting, planning, and overall financial management within an organization.
What explains why the game of economics is about setting goals as much as it is about making allocation decisions?
There are different and incompatible economic goals.
What best explains why goals are nescessary for making allocation decisions?
The available resources cannot be used to pursue every goal that each individual has.
Which of the following best explains why goals are necessary for making allocation decisions?
The available resources cannot be used to pursue every goal that each individual has.
What has the author Lars-Olof Johansson written?
Lars-Olof Johansson has written: 'Goal conflicts in decisions to allocate resources' -- subject(s): Social psychology, Group decision making, Decision making, Resource allocation
Which elements does an allocation rule link together?
An allocation rule links together the resource pool (e.g. funds, assets) to be allocated and the criteria or formula used to determine how those resources are distributed among different recipients or projects. It provides a framework for making decisions about resource allocation based on specified parameters or conditions.
Which best explains why the game of economics is about setting goals as much as it is about making allocation decisions?
There are different and incompatible economic goals.There are different and incompatible economic goals.different people want different things out of life.
Is Budget making is primarily a planning process whereas its administration is a part of controlling?
The administration controls the allocation of resources for a particular company. The making of the budget is the primary planning process by which this allocation of resources is decided.
What is the Definition of making decisions?
Making decisions is the act of deciding something one way or another.
What is the process for creating a priority matrix in work and how can it help in making decisions efficiently?
Creating a priority matrix involves identifying and ranking tasks based on importance and urgency. This can be done by assigning values or scores to each task. The matrix helps in making decisions efficiently by providing a visual representation of priorities, allowing for better allocation of time and resources to tasks that have the most impact on goals and objectives.
How is making reasponsible decisions related to good character?
how is making reasponsible decisions related to good character? Answer: Making good, responsible decisions helps and effects your cahracter in good way because if you make good decisions you can and will have a great CHARACTER
What is an adjective for making the right decisions?
decision making
Which action is a part of the president's role in foreign policy?
Answer this question… Making final decisions
