This is an outline for the decisions that Frankie is going to make
Of course, there could be many economic strategies that should be considered important while making decision. Opportunity cost is the foremost significant factor while considering any economic option. When you buy something, you should know how much you are forgoing for this product. Indeed, you could buy something different with this measure if you changed your mind. Willingness to buy shows how much surplus you are earning while making a decision. It is important because it shows you buy what you want or you buy because you have only limited amount of money. The price or quality can be considered as a general economic option that we are applying while buying something. When you buy something, price or quality could be one of the options. Indeed, they define the characteristics of the product.
Economic strategies refer to the new and rapidly developing economic consulting that involves various principles and methods with the motive of unique insight and enhancing long-term performance.
The three economic strategies that Frankie should use while making decisions:
The economic strategies help many of the businessmen to come out of many of the hurdles and the negative situations of the business.
The opportunity cost refers to the factor that is to be considered at any of the economic options. When we go to buy something, we sometimes forego any of the products to consume other products or goods and services.
Willingness to buy refers to the surplus income we earn to make a particular decision. It is a mandate because this shows the way what the demand is and what can be consumed at a particular time.
The price or quality refers to an economic option that applies while purchasing something. Whenever any person purchases anything, the price and the quality of the good is the most considered thing.
To know more about the economic strategies of Frankie, refer to the link below:
https://brainly.com/question/15741456
