Why Societies Cannot Make A Choice Above Their Production Possibilities Frontier And Should Not Make A Choice Below?

Why Societies Cannot Make A Choice Above Their Production Possibilities Frontier And Should Not Make A Choice Below? A choice above the PPF is not possible because the PPF already illustrates the maximum amount of production. Producing at a point inside the PPF is inefficient because more production could be achieved at no additional cost.

What Is The Fourth Step In The Decision Making Process?

What Is The Fourth Step In The Decision Making Process? Solution(By Examveda Team) Fourth step in decision making process is making decisions. Decision Making Process helps manager and other professional to make choices by examining a decision , collecting information for solving problem. What are the five steps of decision making? Step 1: Identify the

What Is A Living Dead Option?

What Is A Living Dead Option? The maximum of liveness in a hypothesis means willingness to act irrevocably” Option – “the decision between two hypotheses” Living and dead option – “a living option is one in which both hypotheses are live ones” Forced and avoidable option – an option for which there is “no possibility

Which Style Of Decision Making Has A Broad Outlook And Considers Many Alternatives?

Which Style Of Decision Making Has A Broad Outlook And Considers Many Alternatives? What must you guard against when making a decision? Which style of decision making is very broad in outlook and considers many alternatives? Non programmed. Which style of decision making is very broad in its outlook and considers many alternatives? What must