Logical arrangement of facts
Answers
There are practically several application of logical arrangement of facts.However,in view of Economics it can be best used for decision making or problem solving activities or conducts.
Explanation:
Logical arrangement of facts is basically required once any information or data is received.In Economics,information or data is imperative to reach any rational or reasonable conclusion.For example,any new business enterprise is mandatorily required to perform a thorough market research prior to the commencement of business which essentially entails collecting information and data about various important aspects of business such as consumer demand,market competition,business expansion,potential costs and expenses of business,expected profit or revenue and so forth.Once the information is obtained,the business owner has to logical arrange the facts,organize and process the information and analyze the important facts which will be crucial in that particular context.Logical arrangement of facts in this case,can be useful in properly comprehending the information collected which can further facilitate effective decision making and business policy implementation.