We Need to Recognise That the Cultural Background of a Decision

question 23

Multiple Choice

We need to recognise that the cultural background of a decision maker can have a significant influence on:

• A)the selection of problems
• B)the depth of analysis
• C)whether organisational decisions should be made autocratically by an individual manager or collectively in groups
• D)All of the above.

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Definitions:

Demand Increase

A situation where there is a higher quantity of a good or service desired at each price level, often depicted as a rightward shift of the demand curve.

Price Of Inputs

The cost associated with acquiring the raw materials or factors used in the production of goods and services.

Number Of Consumers

The total count of individuals or entities that purchase or are potential purchasers of goods and services in a given market.

Surplus

The situation that occurs when the quantity supplied of a good exceeds the quantity demanded at a given price.