Hcad 770 exam 1 2024 - Study guides, Class notes & Summaries

HCAD 770 Exam 1 | Questions and Correct Answers | Latest Update 2024/2025 6 reasons economics is valuable for managers - Answer -- helps them focus on key issues - outlines strategies for realizing goals given the available resources - gives them ground rules for strategic decision making - gives them a framework for making sense of costs - gives them a framework for thinking about value - it sensitizes them to fundamental ideas that affect the operations of every organization cost - ...

HCAD 770 Exam 1 | Questions and Correct Answers | Latest Update 2024/2025 6 reasons economics is valuable for managers - Answer -- helps them focus on key issues - outlines strategies for realizing goals given the available resources - gives them ground rules for strategic decision making - gives them a framework for making sense of costs - gives them a framework for thinking about value - it sensitizes them to fundamental ideas that affect the operations of every organization cost - ...

HCAD 770 EXAM 1 QUESTIONS & ANSWERS 2024/2025 explicit cost - ANSWERSout of pocket costs; actual payments implicit cost - ANSWERSsubtle, represent cost using resources firm already owns; depreciation of good/materials/equipment economist - ANSWERSsocial scientist who studies specific kinds of relationships income, tastes, preferences, quantity - ANSWERSchanges in factors (__________) can be catalyst for increase in demand econometrics - ANSWERSdiscipline of using math & statisti...