Reference no: EM133041143

Direction: Explain the following questions.

1. Show how price and output are determined under the conditions of perfect competition in the long run.

2. Explain cost-plus pricing and marginal cost pricing.

Direction: Answer the following questions briefly but completely.

1. Why is planning called the primary functions of management?

2. Why planning is an important management task?

3. What is/are the differences between single use and standing plan?

4.What questions you need to address in plan preparation?

5. What is decision making? Describe how it is important to organizational success.

6. Decision making is a system of inputs, process, and outputs. Explain?

7. Describe the main features of programmed and non- programmed decisions.

8. If you are asked to make a decision on some specific organization issue, what is the first thing you need to consider? Why?

9. When should you use programmed and non-programmed decision-making? 10. Distinguish among the decision situations of certainty, risk and uncertainty?

10. Get into a group consisting 3-5 members and evaluate planning and decision making practices of any NGO or other organization.

11. Planning often recognized by management intellectuals as apace maker of management practice. However, many organizations particularly in developing countries over ride this management function. How is the commitment of your organization towards planning? How do you prepare the plan and how about the result of your plan?