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Brainstorming Is a Technique Used in Group Decision Making

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Brainstorming is a technique used in group decision making.To brainstorm,group members are encouraged to offer all of their ideas without internally censoring them.The group has an open discussion,examining all the ideas and available data.As you might expect,brainstorming was developed to counter:


Definitions:

Supply Curve

A visual chart that illustrates how the price of an item correlates with the amount of the item that sellers are prepared to offer.

Marginal Cost Curve

A graphical representation showing how the cost of producing one more unit of a good or service changes as production volume increases.

Average Revenue

The amount of income generated per unit of sale or services rendered, calculated by dividing the total revenue by the number of units sold.

Total Revenue

The overall amount of money generated by a firm from selling its products or services, calculated as the quantity of goods sold multiplied by the price of the goods.

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