Delegation Should

question 22

Multiple Choice

Delegation should:

• A) be used with all employees to build up their skills and knowledge.
• B) only be used with employees who are willing to take on new responsibilities.
• C) only be used with employees who are trained to take on new responsibilities.
• D) only be used with the most talented employees who have the most skills.
• E) only be used with employees who are fully trained and competent, as well as willing and confident to take on new responsibilities.

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Definitions:

Price Elasticity

An indicator of the alteration in the amount of a product that is either demanded or supplied, as a result of variations in its market price.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good which consumers are willing to purchase at various prices.

Midpoint Method

A technique used to calculate the elasticity of demand or supply between two points on a curve by using the average of the two points.

Total Revenue

Total revenue refers to the total amount of money generated by a business or organization from its activities, often from sales of goods or services, before any expenses are subtracted.