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The travellers were making many short term decisions, deciding each particular trip whether to go by the railroad, or whether to go instead by car, bus or the local airline. Based on the cumulative effects of these small decisions, the railroad was making one major long run decision, "virtually all-or-nothing and once-and-for-all": whether to ...
Competitive Tendering – making good offers to private and public sector which may arise on into competition between them, which is good for moving forward; Public & Private Partnerships – involving private professional to make decisions to cut less necessary costs or to help to make some decisions. One of the key steps can also be to ...
With a possible recession coming, we get advice from three financial experts on how to survive the tough times.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Families are more likely to feel like the economy is in a recession. Two-thirds of parents with children younger than 18 (66%) feel the economy is in a recession, versus 54% of adults with no ...
Decision quality (DQ) is the quality of a decision at the moment the decision is made, regardless of its outcome. Decision quality concepts permit the assurance of both effectiveness and efficiency in analyzing decision problems. [1] In that sense, decision quality can be seen as an extension to decision analysis. Decision quality also ...
Most business economists think the U.S. economy could avoid a recession next year, even if the job market ends up weakening under the weight of high interest rates, according to a survey released ...
High-quality cars tend to be pushed out of the market, because there is no good way to establish that they really are worth more. Certified pre-owned programs are an attempt to mitigate this problem by providing a warranty and other guarantees of quality. The Market for Lemons is a work that examines this problem in more detail.