What Is "Supply Management

question 79

Multiple Choice

What is "supply management"?

• A) A system that ensures there are no shortages in consumer products and service
• B) A system that ensures companies producing products like automobiles do not artificially restrict supply in order to drive up the price of their products
• C) A system that establishes domestic production quotas for commodities like dairy products, maple syrup, eggs, chickens, and turkeys
• D) A system that is designed to create perfect competition in certain industries

---

Definitions:

Teams Competency

Refers to the collective skills, abilities, and expertise that members of a group bring to achieve its objectives.

Organizational Goals

These are strategic objectives that a company aims to achieve; they serve as guiding principles that drive the organization's direction and decision-making processes.

Formal Groups

Groups created with a specific purpose or goal, often within organizational contexts, characterized by structured roles and responsibilities.

Informal Groups

Natural social formations that arise within the workplace or other organizations without formal structure, based on common interests, friendships, or shared objectives.