High-Rise Building Company Uses 400,000 Tons of Stone Per Year

question 71

Multiple Choice

High-Rise Building Company uses 400,000 tons of stone per year. The carrying costs are
$100/ton. The cost per order is $500. Calculate the optimal number of orders per year.

• A) 400
• B) 100
• C) 200
• D) none of the above

Identify the impacts of psychological phenomena on managerial decision-making.

Describe the concept of benchmarking and its importance in management.

Recognize the complexity of decision-making models in the context of governmental and organizational structures.

Understand the types of decisions in management and their application.

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Definitions:

Environmental Stimulus

Any external factor or event that triggers a sensory response or behavioral reaction from an organism or individual.

Activating Associations

The process by which related ideas, memories, or perceptions are brought to mind.

Priming

A psychological phenomenon where exposure to one stimulus influences a response to a subsequent stimulus, without conscious guidance or intention.

Initiating

The act of beginning or starting something, such as a plan, process, or action.