Match the Term with Its Definition

question 63

Multiple Choice

Match the term with its definition.
-A simple organizational structure in which each person reports to one supervisor

• A)budget
• B)chain of command
• C)delegation of authority
• D)empowerment
• E)line-and-staff organization
• F)line organization
• G)long-range plan (strategic plan)
• H)negotiation
• I)networking
• J)professional manager
• K)Service Corps of Retired Executives (SCORE)
• L)short-range plan
• M)Small Business Development Centers (SBDCs)
• N)span of control

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Definitions:

Selling Price

The price at which a product or service is sold to the consumer.

Mercola

A brand and website known for its health-based products and controversial wellness information.

Break-even

The point in business where revenues equal expenses, resulting in no net loss or gain.

Mark-up

Extra costs applied to the basic price of goods for overhead absorption and profitability.