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Match the Word or Phrase with Its Meaning

question 31

Multiple Choice

Match the word or phrase with its meaning.
-Arousing attention

Comprehend the concept and application of social network analysis within organizational management.
Understand the concept of the shadow organization and how individuals contribute outside their regular responsibilities.
Learn the practice and benefits of management by walking around for gathering informal feedback.
Recognize how open office spaces support informal communication and potentially enhance collaboration.

Definitions:

Average-fixed-cost Curve

A curve that shows the relationship between the average fixed cost of producing a good and the quantity of the good produced, typically declining as production increases.

Marginal Product

The increase in output that results from employing one more unit of a particular input, holding all other inputs constant.

Explicit Costs

Direct, out-of-pocket expenses paid by firms for inputs to production, such as wages, rent, and materials, as opposed to implicit costs which are not directly paid out in cash.

Implicit Costs

The opportunity costs that are not directly paid for or incurred during the production of a good or service.

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