Economic theory is a valuable tool for business decision making because it:

a) Identifies for managers the essential information for making a decision

b) Assumes away the problem

c) Creates a realistic, complex model of the business firm

d) Provides an easy solution to complex business problems

Question

Business

Austin Warren

28 May, 22:45

Economic theory is a valuable tool for business decision making because it:

a) Identifies for managers the essential information for making a decision

b) Assumes away the problem

c) Creates a realistic, complex model of the business firm

d) Provides an easy solution to complex business problems

+1

Answers (1)

Know the Answer?

Jan Pope · Answer 1

Answer: The correct answer is "a) Identifies for managers the essential information for making a decision".

Explanation: Economic theory is a valuable tool for business decision making because it identifies for manager the essential information for making a decision since through certain assumptions about essential aspects, it allows managers to test and differentiate the possible results according to the relevant information that it provides to make a decision.

Economic theory is a valuable tool for business decision making because it:a) Identifies for managers the essential information for making a decisionb) Assumes away the problemc) Creates a realistic, complex model of the business firmd) Provides an easy solution to complex business problems

Economic theory is a valuable tool for business decision making because it:

a) Identifies for managers the essential information for making a decision

b) Assumes away the problem

c) Creates a realistic, complex model of the business firm

d) Provides an easy solution to complex business problems