Many Directors Find It Difficult to Delegate Responsibility Because

question 24

Multiple Choice

Many directors find it difficult to delegate responsibility because

• A)it might put too much of a burden on others.
• B)staff members complain.
• C)they fear others may think they are poor managers.
• D)they do not know how to do it.

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Definitions:

Short Run

A time period in economics where at least one factor of production is fixed, limiting the ability of businesses to adjust to changing market conditions.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market balance.

Demand Curve

is a graph showing the relationship between the price of a good or service and the quantity demanded by consumers, typically downsloping to indicate that lower prices increase demand.

Competitive Firm

A company that operates in a market with many competitors, facing a highly elastic demand curve for its product because many substitutes are available.