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Business English Exercises
 

Managerial Decisions

Answers to test questions and links to explanations

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managerial decisions answer 1
Dr. Said Atri, Professor of Economics at SUNY, explains that most managerial decisions involve making a choice from among alternative courses of action or options in order to achieve a certain objective.

Correct answer: (b) alternative

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managerial decisions answer 2
Optimization is the process by which a desired outcome is achieved through the most efficient course of action.

Correct answer: (d) Optimization

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managerial decisions answer 3
In consumption, a consumer with a given amount of income purchases the mix of goods that provides him or her with the greatest level of satisfaction or utility.

Correct answer: (a) given

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managerial decisions answer 4
Often managerial decisions have to be made subject to some constraints.

Correct answer: (b) constraints

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managerial decisions answer 5
For instance, a manager that is trying to cut his labor costs may be under a union contract limiting his ability to lay off workers.

Correct answer: (a) contract

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managerial decisions answer 6
A farmer who wants to take advantage of good market conditions and increase the size of his crop is limited by the amount of land that he has available.

Correct answer: (a) crop

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managerial decisions answer 7
Managerial decisions are not made in a vacuum: economic and market conditions constantly change and managers must decide in accordance with the dynamics of the business environment.

Correct answer: (d) vacuum

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managerial decisions answer 8
As complex as managerial problems may appear, often their various elements can be fitted into microeconomic models; that is why managerial economics is also called "applied microeconomics".

Correct answer: (a) applied microeconomics

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managerial decisions answer 9
The manager's internal environment is made up of those factors over which he has at least some degree of control.

Correct answer: (b) degree

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managerial decisions answer 10
Macroeconomics is relevant to managers, as managers are often interested in knowing the state of the economy and the direction of macroeconomic measures such as interest rates and inflation.

Correct answer: (c) relevant

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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
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