For each of the situations below describe the analysis to be done and what would be the deciding factors in making each choice? Be thorough in your answer, there should be 6 paragraphs and use your own words. When possible give a concrete example. The decision to Make or Buy a component for your product:

1. When you produce defective products, what factors determine whether to Scrap the items or rework them to correct errors.
2. The decision to partially complete processing and Sell products as is or process them further.
3. The decision on how much product of each type to produce when resources are limited.
4. What factors should be examined in deciding to eliminate a division, or product or store.
5. The decision to keep existing assets and repair them or replace the asset with a newer one.