- Here is a chance for each of you to apply what we are learning to your real life. If you are a business owner, a manger in a business, a department head and there are lots of you in the class, you have a budget and you make decisions that effect fixed and variable costs. Share some of your insights on decisions that effect costs.
- If you are thinking about owning a business here is a chance to think about what some of the costs of that business will be. Suppose you are asked by an investor to list some of the major costs of getting started, what would you say?
- Or simply think about that dream job you hope to land. Be ready to tell an interviewer about the relevant fixed and variable costs.
Decisions related to the minimization of costs are critical to the manager. A manager may face a plethora of costs which can... View the full answer