What economic conditions are relevant in managerial decision making?
What will be an ideal response?
Such factors as market structure, supply and demand conditions, technology, government regulations, international factors, expectations about the future, and the macroeconomy are economic factors that play a role in managerial decision making.
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Mark works as a business development officer for a leading electronics company. His main task is to meet potential clients in their respective offices and try to enter into a business deal with them
Irrespective of the number of clients approached and deals made, Mark earns a fixed salary every month. Because his boss does not cross-check how many clients he meets in a day, Mark often does not meet all the clients that he is supposed to. His behavior is an example of ________. A) adverse selection B) moral hazard C) a positive externality D) a pecuniary externality
In the above figure, 300,000 purses per month is
A) the efficient amount to produce because at 300,000 purses marginal social benefit equals marginal social cost. B) the efficient amount to produce because at 300,000 purses marginal social benefit is greater than marginal social cost. C) an inefficient amount to produce because at 300,000 purses marginal social benefit equals marginal social cost. D) an inefficient amount to produce because producing 500,000 purses sets the marginal social benefit equal to zero.
The largest merger in American corporate history was between _____ and ________.
Fill in the blank(s) with the appropriate word(s).
The central problem of economics is the
A) Distribution of goods and services to those in need. B) Human wants exceeding the availability of resources. C) Inefficiency of government operations. D) Labor unemployment.