Inflation affect on organization's decision-making process
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1. How does inflation affect an organization's decision-making process?
2. If dollar bills (Federal Reserve notes) are backed by nothing but promises and are in real terms worthless, why do people accept them?
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1. How does inflation affect an organization's decision-making process?
Inflation is a reduction in the market value or purchasing power of money, i.e., an increase in price level in order to purchase a product. Therefore, when there is inflation, it will affect the price of the raw materials, labor cost, overhead costs, and pricing strategy of the company. The manager has to change ...
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