Explain one method economists and business people use to them make business decisions

One of the methods used by economists and entrepreneurs for business decision making is cost-benefit analysis.

Explanation:

Generally, in the companies, important decisions are made for the commercialization, for which the businessmen usually use methods that help them; one of these techniques is the cost-benefit analysis.

Through the Cost-benefit analysis, the businessmen examine the most profitable options for the projects or financial movements that they will carry out, the objective is to choose the solution that produces more benefits and fewer costs or that equals the costs with the benefits so as not to suffer a loss.

I hope this information can help you.

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