Managers Who Manage Systems That Convert Resources into Goods and Services

question 126

Multiple Choice

Managers who manage systems that convert resources into goods and services are known as ____ managers.

• A) administrative
• B) financial
• C) marketing
• D) operations
• E) human resources

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Definitions:

Price Ceilings

Government-imposed limits on how high a price can be charged for a good or service.

Price Floors

Government or regulatory-imposed minimum prices for goods or services, meant to protect producers or service providers from prices that are too low.

Property Rights

Property rights are the legally recognized rights to own, utilize, and dispose of assets or property, which can include both physical and intellectual property.

Interfering

The act of impeding or meddling in the affairs or processes of others, potentially causing disruption or hindrance.