Which of the Following Organizational Positions Is a Part of an Organization's

question 21

Multiple Choice

Which of the following organizational positions is a part of an organization's top management team?

• A) functional manager
• B) executive vice president
• C) divisional manager
• D) plant supervisor

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Definitions:

Marginal Utility

The change in satisfaction or utility an individual gains from consuming an additional unit of a good or service.

MU/P Ratio

The MU/P Ratio stands for the marginal utility to price ratio, used in economics to analyze consumer choice by comparing the additional satisfaction (utility) received from an increase in consumption of a good relative to its price.

Marginal Utility

The alteration in pleasure or usefulness a person receives from using an extra unit of a product or service.

Laws of Economics

Fundamental principles that govern economic behavior and interactions, such as supply and demand, cost-benefit analysis, and incentives.