The Three Major Functions of Business Organizations

question 35

Multiple Choice

The three major functions of business organizations:

• A)perform different but related activities.
• B)are related indirectly only.
• C)must work together,but not very closely.
• D)function independently of each other.
• E)perform similar and related activities.

---

Definitions:

Price Ceiling

A legally imposed limit on the price charged for a product, intended to prevent prices from reaching levels deemed too high.

Price Support Program

Government initiatives intended to maintain the market price of a good or service above its equilibrium level by buying excess supply or restricting supply.

Government

The system or group of people governing an organized community, often a state.

Farmers

Individuals or entities engaged in the practice of agriculture, cultivating plants and raising livestock for food, fiber, and other products.