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Following are the examples of typical economic decisions made by managers of a firm. Determine whether each is an example of what, how, or for whom to produce:
(a) Should the company make its own spare parts or buy them from an outside vendor?
(b) Should the company continue to service the equipment it sells or ask the customers to use independent repair companies?
(c) Should a company expand its business to international markets or concentrate on domestic markets?
(d) Should the company replace its telephone operators with a computerised voice messaging system?
(e) Should the company buy or lease the fleet of trucks that it uses to translate its products to markets?
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