Problem of choice is unavoidable in the ordinary business of life how

Solved: problem of choice is unavoidable in the ordinary business of life how Problem of choice is unavoidable in the ordinary business of life .how? ANSWERED.. Problems of choice is unavoidable in the ordinary business of life because of following reasons. 1. Unlimited Wants: Human wants are unlim ... COLLAPSEApple's Jobs Takes Leave as Weight Loss Said to Continue; Cook Takes OverLead Story-Dateline: Satariano, Adam, Peter Burrows, and Joseph Galante,"Apple's Jobs Takes Leave as Weight Loss Said to Continue; Cook Takes Over," Bloomberg.com,http://www.bloomberg.com/news/2011-01-17/apple-chief-executive-jobs-granted-medical-leave-of-absence.html,posted 1/18/2011.Summary: Key Points in the ArticleApple Computer CEO Steve Jobs announced he was taking a leave of absence for health reasons. Jobs has been fighting cancer and also recently underwent a liver transplant. Even though the computer giant is in good hands with Chief Operating Officer Tom Cook taking over the stock price fell by US$6.40, or nearly two percent, on the news.Jobs is widely known as a visionary and a micromanager. Under his leadership Apple has transformed the computing industry. While Jobs' health outlook is unknown many investors are betting on his recovery and return. Those who bought Apple stock when Jobs stepped down in 2004 for health reasons made a nice profit when he returned to the helm. Question “When a financial manager makes good or bad financial decisions the impact of these decisions will be ...

Resources are not only limited, but also have alternative uses. Alternative uses means that they can be put into many uses. For example, land can be Used for cultivation. It can be used for constructing a house or a factory. Because resources are scare, we have to choose how the resources are to be used so that we can have the best satisfaction. Three distinct components of economics are consumption, production and distribution. (i)Consumption:Using of goods for satisfying human needs is called consumption. (ii)Production:Adding or increasing the utility of a commodity is known as production. (iii)Distribution:It means the distribution of the national income or the total income arising from what has been produced in the country (called GDP). GDP is distributed among the agents (factors) of production in the form of wages/salaries, profits, interests and rents. Micro-economics deals with economic problems i.e. relating to micro economic units like a household, a firm etc. On the other hand macro-economics deals with economic problems at the level of economy as a whole. Microeconomics is studied with a view of maximising individual welfare whereas macro-economics is studied keeping in mind the social welfare. Statistics as aggregate of numerical facts : Some quantitative information relating to an individual like Ram has two brothers cannot be taken as statistics. In the same way Ram has 100 rupees in his pocket cannot be taken as statistics. Only the aggregates of data will...

In some of Western culture’s earliest writings, Hesiod defined the basic economic problem as one of scarce resources, a view still held by most economists. Diocletian tried to save the falling Roman Empire with wage and price fixes—a strategy that has not gone entirely out of style. And just as they did in the late nineteenth century, thinkers trained in physics renovated economic inquiry in the late twentieth century. Taking us from Homer to the frontiers of game theory, this book presents an engrossing history of economics, what Alfred Marshall called “the study of mankind in the ordinary business of life.” While some regard economics as a modern invention, Roger Backhouse shows that economic ideas were influential even in antiquity—and that the origins of contemporary economic thought can be traced back to the ancients. He reveals the genesis of what we have come to think of as economic theory and shows the remarkable but seldom explored impact of economics, natural science, and philosophy on one another. Along the way, he introduces the fascinating characters who have thought about money and markets, including theologians, philosophers, politicians, lawyers, and poets as well as economists themselves. We learn how some of history’s most influential concepts arose from specific times and places: from the Stoic notion of natural law to the mercantilism that rose with the European nation-state; from postwar development economics to the recent experimental and statistical ...

Yes , it is rightly said that problem of choice is unavoidable in ordinary business life . It is because our wants are limited and the resources to statisfy them are limited moreover they have alternative uses For example worker can render his sevices either in company A,B OR C . He has to make choice between the three . So we can say that problem of choice is unavoidable What is the two types of business ownership? A business enterprise can be owned and organized in several forms. Each form of organization has its own merits and demerits. The ultimate choice of the form of business depends upon the balancing of the advantages and disadvantages of the various forms of business. The right choice of the form of the business is very crucial because it determines the power, control, risk and responsibility of the entrepreneur as well as the division of profits and losses. Being a long term commitment, the choice of the form of business should be made after considerable thought and deliberation. The choice of the form of business is governed by several interrelated and interdependent factors. Sole Proprietorship Partnership Corporation Scope of MBA in business? Hi,After MBA there is a lot of scope which you can get. MBA is a course which is related to business management studies. If you have a business, then MBA is the right choice to carry forward your business. One can also work in an MNC after doing MBA. the scope and avenues is vast. What is the process of starting a new bu...

Summing Up What is the Proper Role of Judgment in Decision-Making? There is a seemingly universal (and currently popular) quest for rational processes—what Hamilton Carvalho terms "cognitive repairs"—to counter the foibles of human judgment. Nevertheless, the predominant opinion among respondents to this month's column is that judgment has a dominant role to play in some decisions while it is an element in all decisions. That assumes, of course, that we can arrive at some agreement about what the term means. Seena Sharp equated judgment with intuition. As she said, "Intuition is far more valuable in decisions regarding people …" However, intuition lags reality. "Use it to consider if the new idea makes sense, but don't give it more weight than it deserves." B. Graham equated judgment with a "gut check." He put it this way: "Seems to me that a 'gut check' on big decisions is always prudent. I realize that is the sort of bias these authors warn about, but the application of their methods shouldn't reduce decision-making to a formula…" Phil Clark had a more encompassing view of the term: "The discussion you opened is not contradictory to sound judgment. It only emphasizes it…. Judgment is an encapsulation of all those elements … data, facts, processes, etc… that go into decisions from which we have learned in the past." Joe Schmid said: "Our education and work environments are analysis rich and have become synthesis poor… Synthesis is what happens when, after absorbing a subj...