Work Activities That Absorb Inputs to Create Information and Communication

question 25

Multiple Choice

Work activities that absorb inputs to create information and communication outputs that ensure the consistent day-to-day operation of the firm are referred to as:

• A) organizational values.
• B) shared goals and values.
• C) organizational systems and processes.
• D) implementation and control.
• E) strategic systems.

Recognize the importance of customer retention compared to the cost of acquiring new customers.

Understand the mechanisms of self-serving bias and how it influences attribution.

Comprehend the principles of cognitive dissonance and its effects on attitudes and behaviors.

Recognize the role of social comparison in self-evaluation.

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Definitions:

Shortage Or Surplus

Economic conditions where the quantity demanded exceeds supply (shortage) or supply exceeds demand (surplus) at a given price.

Decrease In Supply

A situation where the quantity of a good or service available for sale becomes less than before, often due to factors like increased production costs, natural disasters, or reduced resources.

Equilibrium Level

The state in a market where supply equals demand, and there are no external forces causing disruption, leading to a stable price.

Unconscionable Rate

A term often used to describe exorbitantly high rates or charges that go beyond what is reasonable or legally permissible, typically in the context of loans or credit.