Two Coworkers at Nortel Came Up with an Idea for Renting

question 94

Multiple Choice

Two coworkers at Nortel came up with an idea for renting software over the Internet. Nortel's top management liked the idea and set up a special division called Channelware devoted to taking the idea and making a new product. The establishment of a new company and assigning the employees in the division the task of making the idea a reality requires which management function?

• A) communicating
• B) controlling
• C) organizing
• D) planning

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Definitions:

Agricultural Price Floors

Government-imposed limits on how low prices can fall for agricultural products, aimed at stabilizing farmers' incomes.

Surplus

The situation in which the quantity of a good supplied exceeds the quantity demanded at a specific price.

European Union

A political and economic union of 27 European countries that participate in a single market allowing free movement of goods, services, capital, and people.

Supply Curve

A graphical representation showing how the quantity of a good that producers are willing to supply changes as the price of the good changes.