Question

Making decisions often involves financial and nonfinancial factors. Provide a hypothetical example from your personal life of a situation in which you would consider both financial and nonfinancial factors. What factors would be considered?

Answer 1

Answer?- The decision involves relocation to another country for better job prospects. In this decision, financial factors Deed to be considered such as the salary & perquisites which will be received it the job is undertaken. Also, the cost of relocation needs to be taken into account: Besides moving expenses, this will include opportunity costs and higher living expenses in the new location. However, this decision is not based purely on financial considerations. There are also non-financial factors to be taken into account such as further job prospects, impact on family, education facilities available and cultural changes,