The Five Rights of Delegation Are Right Task, Right Circumstance

question 24

Multiple Choice

The five rights of delegation are right task, right circumstance, right person, right direction and communication, and right:

• A) interaction.
• B) outcome.
• C) supervision.
• D) time.

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Definitions:

Marginal Revenue Product

The increase in revenue a firm expects from employing one additional unit of a resource, such as labor.

Labor Demand Curve

A graph showing the relationship between the quantity of labor demanded by employers and the wage rate, typically illustrating that higher wages lead to lower demand for labor.

Planning Horizon

The time period over which an individual, organization, or government plans for and anticipates future events and activities.

Elasticity

Percentage change in one variable resulting from a 1-percent increase in another.