Luigi and Gina Cicello have decided to lease some newly built premises for the purpose of opening a seafood outlet. They intend to provide a wide range of different products, including a variety of seafood for sale and take-away fish and chips.

Required:

Discuss the types of economic decisions that they will be required to make, and the information that they will need to make those decisions. Distinguishing non-economic and economic information, identify non-economic decisions that they will also be required to make. Discuss why Luigi and Gina may require the services of an accountant.