When Managers Make a Decision,they Base It Strictly on the Numerical

question 87

True/False

When managers make a decision,they base it strictly on the numerical analysis performed in step three of the decision making process.Managers base decisions on the numerical analysis and a variety of other factors.

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Definitions:

Free-Market Economies

Economic systems in which the prices for goods and services are determined by the open market and consumers, with minimal governmental intervention.

Property Rights

The legal rights to possess, use, and dispose of assets including real estate, personal property, and intellectual property.

International Monetary Fund

An international organization created to promote global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Economic Development

The method through which a country enhances the financial, governmental, and societal prosperity of its citizens.