The Process by Which Managers Monitor and Regulate How Efficiently

question 100

Multiple Choice

The process by which managers monitor and regulate how efficiently and effectively an organization and its members are performing the activities necessary to achieve organizational goals is known as

• A)organizing.
• B)leading.
• C)controlling.
• D)coordinating.

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Definitions:

Long Run

A period of time in economics during which all factors of production and costs are variable, allowing for full adjustment to changes.

Making a Loss

Making a loss occurs when a business's total expenses exceed its total revenues during a specific period, indicating that the business is not financially profitable.

Minimize Losses

Strategies or measures taken to reduce the extent of financial loss or to prevent future losses.

Total Cost

Total cost is the entire expense associated with the production of a set of goods or services, including both fixed and variable costs.