Functional Strategies Are Implemented

question 69

Multiple Choice

Functional strategies are implemented

• A) only at the top levels of management.
• B) by each appropriate area or unit.
• C) only at the employee level.
• D) at one time by the organization as a whole.
• E) by the stakeholders.

---

Definitions:

Revealed Preference

A theory that assumes individuals' preferences can be determined by their purchasing habits.

Weak Axiom

A principle in consumer choice theory stating that if a consumer prefers bundle A over bundle B when both are available at the same prices, then the consumer will not purchase more of bundle B if its price rises.

Revealed Preference

An economic theory stating that the preferences of consumers can be understood by their purchasing habits.

Prices

The monetary value assigned to goods and services in a market, dictating the exchange rate at which these can be traded.