An Outline of the Actions an Organization Intends to Take

question 148

Multiple Choice

An outline of the actions an organization intends to take to accomplish its goals and objectives is called its

• A) policy.
• B) plan.
• C) organization function.
• D) mission.
• E) control function.

---

Definitions:

Negative Externalities

Costs suffered by a third party as a result of an economic transaction which the parties directly involved in the transaction do not fully account for.

Public Good

A product that one individual can consume without reducing its availability to another individual and from which no one is excluded.

Marginal Benefit

The incremental utility or satisfaction derived from the consumption or production of an additional good or service unit.

Marginal Cost

The increment in comprehensive expenses related to the generation of an extra unit of a good or service.