Which of the Following Is a Defining Characteristic of Formal

question 13

Multiple Choice

Which of the following is a defining characteristic of formal communication?

• A) It is directed toward accomplishing the goals of the organization.
• B) It is directed toward meeting people's individual needs.
• C) It rarely follows the lines of the organization chart.
• D) It is typically used by top management but not by employees.

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Definitions:

Total Profit

The total income a business earns after subtracting all expenses, taxes, and costs associated with producing and selling its goods or services.

Monopoly Power

The ability of a single seller or company to control the market for a particular good or service, leading to limited competition.

Perfect Competitor

A theoretical market structure where many firms sell identical products, there are no barriers to entry or exit, buyers have perfect information, and firms are price takers.

Long Run

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