Who Is Responsible for Setting the Long-Range Objectives of a Corporation

question 37

Multiple Choice

Who is responsible for setting the long-range objectives of a corporation?

• A)Sole proprietors
• B)Preferred stockholders
• C)Board of directors
• D)Customers
• E)External auditors

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Definitions:

Least-Cost Production

An economic principle where firms seek to produce their output at the minimum possible cost to maximize efficiency and profitability.

Inward Shift

A movement towards the origin of a supply or demand curve, indicating a decrease in supply or demand for a product.

Production Possibilities Curve

A graph representing the maximum combination of goods and services that can be produced with available resources and technology.

Emigration

The act of leaving one's own country to settle permanently in another.