Question
The price of petrol rises by 60%. By what percent age
should one minimise the use of petrol so that the expenditure towards petrol is not affected?Solution
Let the price of petrol be Rs. 100 If 60% is increased in price = (100 + 60) = Rs. 160 Thus, the reduced consumption for the price to be constant will be, [(100/100) - (100/160)] × 100 ⇒ [1 - (100/ 60)] × 100 ⇒ [(160 - 100)/160] × 100 ⇒ (60/160) × 100 ⇒ (3/8) × 100 ⇒ 0.375 × 100 ⇒ 37.5 %
Under which of the following five functions of management, job descriptions and job specifications will fall under?
Strategic decisions are _______
Which of the following theory says that investors value gains and losses differently, placing more weight on perceived gains versus perceived losses?
Why is it necessary to eliminate other solutions in the decision-making process?
Which of the following is not a quantitative technique of decision making?
_____________Â refer to decisions that employees make each day to make the organization run.
______ is a decision-making process in which an individual makes a choice that is satisfactory rather than optimal.
As per Herbert’s Decision-making theory, the stage in which the final decision is made is referred to as ______
Rational decision making is a multi-step process starting with defining the problem. What is the next step in this process?
How does a cost-benefit analysis contribute to selecting the best solution?
Relevant for Exams:
