Managers Spend a Majority of Their Time

question 83

Multiple Choice

Managers spend a majority of their time:

• A) resolving conflicts among subordinates.
• B) making decisions on resource allocation.
• C) communicating and relating with others.
• D) monitoring employee performance.
• E) developing strategy and planning ways to fulfil it.

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Definitions:

Marginal Rate

The rate of change in a quantity or cost in response to a one-unit change in another variable.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs.

Utility

In economics, it represents a measure of satisfaction or happiness that consumers derive from the consumption of goods and services.

Efficient

The optimal allocation of resources to maximize the production of goods and services without wasting those resources.