List Four of the Eight Questions Kepner and Tregoe Recommend

question 101

Essay

List four of the eight questions Kepner and Tregoe recommend that managers ask when diagnosing and analyzing causes.

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Definitions:

Employment of Land

The use of land resources for productive or economic activities, including farming, building, or conservation efforts.

Substitution Effect

The economic principle that as the price of one good increases, consumers will replace it with a cheaper alternative, assuming the utility derived remains unchanged.

Output Effect

The effect that changes in the price level have on the quantity of goods and services supplied, due to the real balances of money.

Marginal Revenue Product

The additional revenue generated by employing one additional unit of a factor of production, crucial for decision-making in business.