The Third Stage of the Team Development Process Is

question 89

Multiple Choice

The third stage of the team development process is:

• A) norming
• B) performing
• C) forming
• D) storming
• E) none of the above

---

Definitions:

Short Run

A time period in which at least one input (e.g., plant size, machinery) is fixed and cannot be varied by the firm.

Economic Profit

The divergence between an organization's total turnover and its entire liabilities, including both evident and underlying costs.

Minimum Average Variable Cost

The lowest point at which a company can produce its product with the least average variable costs involved.

Marginal Revenue

The incremental income a business obtains by selling one more unit of a product or service.