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☆☆☆☆☆what are the economic tool which help manager in decision making
Failure to understand the basic definitions is perhaps the most frequent cause of difficulty or failure when studying economics.
the opportunity cost would that it will put the government in big defected in order to provide temporarat relief to business and institutions and envirment so on.
Oppertunity cost.
Abraham. Lincoln was the most famous person and his best decision was to make the speech is to encourage people
My answer would be that HR has a budget for hiring etc, therefore it would be considered a hiring cost from its budget.
The labor cost would be what it cost to produce a product and the wages paid out etc.
In the economical term opportunity cost means the best next alternative forgone
He begins abusing his wife and pet cat
They became culturally different from one another.
that they are witches in disguise.
considering whether companies or the government should make the goods.
capital
They organize resources to try to meet a society's wants and needs.
People try to fulfill both with limited resources.
People have unlimited wants and limited resources to fulfill them.
A designer who starts a new fashion company
A foreign country begins exporting the product in high volume.
An industrial assembly line
A doctor with expertise in medicine
A person who buys a new laptop doesn't have money to buy new
headphones.
