Decisions must frequently be made by individuals, organizations, and even nations. Facilitating better decision-making is a fundamental goal of economics. The analytical framework advocated by economists that enables one to make informed decisions is called

Identify an organization with the low-total-cost value proposition and suggest at least two possible measures within each of the four balanced scorecard perspectives.

Aprimary advantage of organizing economic activity within firms is thea. ability to coordinate highly complex tasks to allow for specialized division of labor. b. low administrative costs because of reduced bureaucracy. c. eradication of the principal-agent problem. d. high-powered incentive to work as salaried employees for an existing firm.

Which statement best describes entrepreneurship aitmakes people very rich b it relies on large financial investments c it is only possible in the retail industry d it requires creativity and ambition