Decision-makers should consider:
A) only qualitative factors.
B) only quantitative factors.
C) both quantitative and qualitative factors.
D) only sunk costs.

Question

Quizplus · Accepted Answer

Decision-makers should consider both quantitative and qualitative factors. Quantitative factors involve numerical measurements while qualitative factors cannot be measured numerically. Both types of factors are important in making sound decisions. Sunk costs, which are costs that have already been incurred and cannot be recovered, should not be the sole basis of decision-making as they do not affect future costs and benefits.

Decision-Makers Should Consider