All of the Following Are True About Objectives, EXCEPT

question 32

Multiple Choice

All of the following are true about objectives, EXCEPT:

• A) They serve as a stimulus for motivation.
• B) They serve as a stimulus for effort.
• C) They are used interchangeably with the word goals.
• D) They are first needed at the bottom level of management.

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Definitions:

Convex Preferences

A concept in consumer theory indicating that a consumer prefers average bundles of goods over extreme bundles, leading to smoother, convex indifference curves.

Strictly Convex

A term often used in mathematics and economics to describe a curve or function that curves away from the origin more sharply than a straight line, indicating increasing marginal effects.

Perfect Substitutes

Perfect substitutes are products or services that can be used in exactly the same way, offering the same utility to consumers, thus one can replace the other without loss of value or function.

Homothetic Preferences

Consumer preferences that are consistent or proportionate across different scales or levels of consumption, indicating a straight line through the origin in a utility function graph.