A System Within an Organization Where Every Person Has Direct

question 5

Multiple Choice

A system within an organization where every person has direct responsibility for health and safety as an essential part of his or her job is called

• A)International responsibility system.
• B)Internal responsibility system.
• C)Independent responsibility system.
• D)Interdependent responsibility system.

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Definitions:

Cartel

A group of independent market participants who collude to control prices and production in order to monopolize a market.

Fixed Cost

Costs that do not change with the level of output, such as rent or salaries.

Cartel

A formal agreement among competing firms to control prices or exclude entry of a new competitor in the market, often resulting in higher prices.

Marginal Cost

Marginal Cost is the cost of producing one more unit of a good or service, a crucial concept in economics for decision-making and pricing strategies.