____ Strategy Determines the Means for Utilizing Resources in the Functional

question 5

Multiple Choice

____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.

• A) Corporate
• B) Business-unit
• C) Marketing
• D) Mission statement
• E) Marketing mix

---

Definitions:

Expected Income

Expected income is the income a person or entity anticipates receiving over a certain period, based on current or future economic factors.

Utility Maximizer

An economic actor who seeks to get the maximum satisfaction or utility from resources available, under the constraints faced.

Probability

The measure of the likelihood that an event will occur, often expressed as a number between 0 and 1, where 1 indicates certainty.

Premium

A premium refers to the additional amount paid for a product, service, or insurance policy over and above its basic cost.