Economics

what are the economic tool which help manager in decision making

The Market(consumers... through their decisions) does it.

Cost-benefit analysis helped traders make decisions about business by letting them decide if things were at too high of a cost to trade. Cost-benefit analysis helped traders make decisions about business by letting them decide if things were at too high of a cost to trade. Cost-benefit analysis helped traders make decisions about business by letting them decide if things were at too high of a cost to trade. Cost-benefit analysis helped traders make decisions about business by letting them decide if things were at too high of a cost to trade.

Specialization is when factors of production perform only tasks they can do more efficiently than others. This is argued to maximize efficiency, but also increases interdependence among aspects of production.

Failure to understand the basic definitions is perhaps the most frequent cause of difficulty or failure when studying economics.

to help save lives

john maynard keynes

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.

The cost of an alternative that must be forgone in order to pursue a certain action. Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone (that is not chosen). It is the sacrifice related to the second best choice available to someone. Opportunity cost is a key concept in economics, and has been described as expressing "the basic relationship between scarcity and choice". The notion of opportunity cost plays a crucial part in ensuring that scarce resources are used efficiently.

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.

They are tiny

when will a cost benefit analysis be done

They became culturally different from one another.

considering whether companies or the government should make the goods.

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.

An inventor who creates a new computer company

A foreign country begins exporting the product in high volume.

An industrial assembly line

A doctor with expertise in medicine

People make economic choices about what to do with their

resources.

A store that buys a shipment of computers can't afford to buy any new phones

convince people to make certain economic decisions.

He believes that his religion is superior to Friday's religion.----APEX