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Problem: Both person A and person B are purchasing bananas and apples from the same supermarket, where the price of a banana is $2 and the price of an apple is $1. Person A is currently consuming 2 apples and 15 bananas, while person B consumes 30 apples and 3 bananas.
a) How many apples do we have to give each individual in return for taking away one banana to keep the person at the same utility? (Assume that changes in consumption are small enough so they do not alter marginal utilities)
b) How should a study value marginal tradeoffs between goods that are exchanged in a market economy? Is it appropriate to use one rate even though people might have very different preferences?
Problem: For each of the following social choice methods, which of Arrow's axioms
a) the Pareto criterion
b) plurality-rule voting (of several choices, the one with the most votes wins)
c) majority voting
d) pulling a choice out of a hat (random)
Q. Illustrate about Value for money framework? The value for money (VFM) framework (the 3Es) Economy (Cheap) e.g. is the organisation procuring resources at the lowe
TFX is a multinational company which manufactures and retails branded designer clothing with business units in a number of different countries globally. Up unless now, each of the
In management strategic decision making involves great complexity, uncertainty and risk. Describe the strategic decision making process and consider the effects of bounded rationa
Question 1: "Strategic Corporate Social Responsibility executed well is effective Corporate Social Responsibility". What are the essential elements to take into account in o
Feedback is a process where part of the output of a system is measured and returned as input to regulate the systems further output. Feedback normally involves gathering informat
Question 1: a. Define strategic management and how it can be applied in an organisation. b. When a company needs to adapt to change, what are the key strategic management qu
Employee behavioural controls 'Influencing the process of how staff work and behave'. Reward e.g. based on attitude or behaviour Dress code e.g. to ensure staff u
Limitations of economic value added (EVA) - Not well understood by users of accounts. - Divisions of different sizes cannot be relatively compared. Similarities of EV
Particularly complex for weakly positioned companies
Question 1: Elaborate on the following business strategies giving examples, and discuss under what circumstances these business strategies are applied. a) Forward integrati
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