The Primary Managerial Functions Differ Depending on the Manager's Level

question 76

True/False

The primary managerial functions differ depending on the manager's level within the managerial hierarchy.

---

Definitions:

Mean of Production

Likely a typographic error intended to refer to "Means of Production," which are the resources (such as land, labor, and capital) used to produce goods and services.

Central Planning

An economic system where the government or a central authority makes all decisions regarding the production and distribution of goods and services.

Capitalism

An economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.

Limited

In a business context, referring to a company where the liability of its members is restricted to what they have invested or guaranteed to the company.