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The Two Types of Objective Controls Managers Use Are

question 11

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The two types of objective controls managers use are:


Definitions:

Output

The amount of goods or services produced by a company, industry, or economy within a specific period.

Production Function

A mathematical formula that describes the relationship between inputs used in production and the output of goods or services.

Returns To Scale

A concept in economics that describes the change in output as a result of a proportional change in all inputs.

Input

Resources used in the production process, including labor, materials, and capital.

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