Question

Which of the following best describes the goal of economic factors in rational decision-making?

• A. Maximizing customer satisfaction
• B. Minimizing costs and maximizing profits
• C. Ensuring compliance with legal standards
• D. Enhancing the technical feasibility of all options

Answer 1

Answer:

B. Minimizing costs and maximizing profits

Economic factors in decision-making are primarily concerned with achieving financial efficiency by reducing costs and maximizing profits. These considerations help ensure that resources are utilized effectively to benefit the organization financially.