Directing Includes

question 202

Multiple Choice

Directing includes

• A) providing a framework for management to have criteria to terminate employees when needed.
• B) running a department under quality control standards universally accepted.
• C) coordinating a company's diverse activities and human resources to produce a smooth-running operation.
• D) developing a complex performance ranking system to give certain high performers good raises.

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Definitions:

Industry

A group of companies or organizations that produce similar goods or services.

Purely Competitive

A purely competitive market is one with many sellers and buyers where no single entity has significant control over prices and where products are largely undifferentiated, leading to market equilibrium determined by supply and demand.

Total Profit

The total financial gain made by a business after subtracting all costs and expenses from total revenue.

Short Run

A time period in economics during which at least one input is fixed and cannot be changed by the firm, contrasting with the long run where all inputs are variable.