Law Is Created So That There Is a Minimal Standard

question 42

True/False

Law is created so that there is a minimal standard of action required by individuals and organization.

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Definitions:

Shortage/Surplus

Economic conditions where the quantity of a good demanded exceeds its supply (shortage) or where supply exceeds demand (surplus).

Chain Of Command

The linking of all employees with successively higher levels of authority.

Vertical Links

The connections and communications between different levels of an organization, from top management to lower-level employees.

Levels Of Management

The hierarchical layers of authority within an organization, including top-level executives, middle managers, and front-line supervisors.