Objective
(adjective)
Agreed upon by all parties present (or nearly all); based on consensually observed facts.
Examples of Objective in the following topics:
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Objective, constraints and alternatives
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Introduction to Production and Cost
- Objectives of agents, technology, availability and quality of inputs determine the nature of these decisions.
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Objectives
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Why Governments Intervene In Markets
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Criteria to evaluate alternatives
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Economic Way of Thinking
- Objectives or goals are usually based on the maximization or minimization of some variable, i.e. the maximization of utility, output or profit or the minimization of cost per unit.