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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

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Answers (1)
  1. 29 May, 02:40
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    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.
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Home » Business » 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
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