Answered: Give an explanation of how the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A system can be interpreted as a collection of objects such as people, resources, concepts, and procedures that are intended to perform certain functions or fulfill a purpose as shown drawing enclosed.

The picture above illustrates how the system and its environment are in a unified whole.
Based on this explanation, design 2 types of systems consisting of the components in the image taken in your current field of work.
Give an explanation of how the mechanism of action of the system!

Weather
conditions
Vendors
Customer
Inputs
Raw materials
Costs
Resources
System
boundary
Processes
Procedures
Programs
Tools
Activities
Decisions
Decision maker
Stockholders
Outputs
Performances
Consequences
Environment
Finished products
Services delivered
Feedback
Banks
Government
Competitors

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