Planning Involves Selecting the Various ______ That the Organization Wants

question 5

Multiple Choice

Planning involves selecting the various ______ that the organization wants to achieve and the __________ to be taken to ensure that they are accomplished.

• A) goals, strategies
• B) objectives, strategies
• C) strategies, objectives
• D) targets, tactics

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Definitions:

Production Function

A mathematical representation that defines the relationship between inputs used in production and the output generated from those inputs.

Returns To Scale

The rate at which production increases in response to proportional increases in all inputs.

Returns To Scale

The rate at which output changes if the scale of all inputs is changed by the same proportion in the production process.

Input

Resources used in the production process to generate goods or services, including labor, raw materials, and capital.