Which of the Following Statements About Nonprogrammed Decisions Is True

question 72

Multiple Choice

Which of the following statements about nonprogrammed decisions is true?

• A) They involve the decision maker facing known situations.
• B) They are reached by an established or systematic procedure.
• C) They include routine, repetitive decisions.
• D) They are easier to make than programmed decisions.
• E) They require a creative approach by the decision maker.

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Definitions:

Tariffs

Taxes imposed by a government on imported or exported goods.

Economies of Scale

Economies of scale refer to the reduction in the cost per unit that companies experience as they increase their production volume.

Aggregate Factor Costs

The total cost of all inputs used in the production of goods or services, such as labor, capital, and materials.

Total Demand

The complete quantity of a product or service that all consumers in a market wish to purchase at a given price and time.