Among the Following,the Data Collection Method That Is Most Costly

question 19

Multiple Choice

Among the following,the data collection method that is most costly is

• A) mail questionnaires.
• B) phone surveys.
• C) group administered questionnaires.
• D) in-person interviews.
• E) All of these cost about the same.

Know the benefits of participatory planning in the organizational context.

Identify the steps involved in the planning process and their significance.

Understand the relationship between planning and controlling within the management functions.

Grasp the essence of planning in setting objectives and determining actions to achieve them.

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Definitions:

Long Run

The long run is a period in economics during which all factors of production and outputs are variable and can be adjusted, contrary to the fixed factors present in the short run.

Marginal Cost Curve

A visual display illustrating the variation in the expense of manufacturing an extra item of a product as the quantity produced alters.

Peak Efficiency

The state of operation where a system or process achieves its maximum productivity with minimal waste and effort.

Break-Even Point

The point at which total costs and total revenues are equal, resulting in no net loss or gain for the business.