International Journal of Social Science & Economic Research
Submit Paper

Title:
DETERMINING RELEVANT AND ALTERNATIVE COSTS WHILE DECISION MAKING

Authors:
Elene Kharabadze, Merab Jikia

|| ||

1Elene Kharabadze, 2Merab Jikia
1Professor, Ivane Javakhishvili Tbilisi State University
2Associate Professor, Ivane Javakhishvili Tbilisi State University

MLA 8
Kharabadze, Elene, and Merab Jikia. "DETERMINING RELEVANT AND ALTERNATIVE COSTS WHILE DECISION MAKING." Int. j. of Social Science and Economic Research, vol. 3, no. 5, May 2018, pp. 1920-1928, ijsser.org/more2018.php?id=131. Accessed 2018.
APA
Kharabadze, E., & Jikia, M. (2018, May). DETERMINING RELEVANT AND ALTERNATIVE COSTS WHILE DECISION MAKING. Int. j. of Social Science and Economic Research, 3(5), 1920-1928. Retrieved from ijsser.org/more2018.php?id=131
Chicago
Kharabadze, Elene, and Merab Jikia. "DETERMINING RELEVANT AND ALTERNATIVE COSTS WHILE DECISION MAKING." Int. j. of Social Science and Economic Research 3, no. 5 (May 2018), 1920-1928. Accessed , 2018. ijsser.org/more2018.php?id=131.

References
This is case study.

Abstract:
When making a decision, only the costs and revenues, whose values depend on the decision to be made, are considered. Such costs and revenues are called relevant ones. Decision-making process refers to the choice between two or more alternatives. Generally, the decision, which maximizes the revenues of the owners, should be made. Therefore, all the decisions are made based on relevant costs and returns.