You Are the Manager of the Marketing Department

question 50

Multiple Choice

You are the manager of the Marketing Department. In order to get office and art supplies, you must submit a purchase requisition. Company policy states that you can only approve up to $500, but any more must have the signature of your boss. Based on this, you are probably lacking in which of the following?

• A) Accountability
• B) Delegation
• C) Span of control
• D) Responsibility
• E) Authority

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Definitions:

Comparative Advantage

The capacity of a party to produce products or services with a lesser opportunity cost compared to others.

Opportunity Cost

The cost of the next best alternative foregone when making a decision.

Specialization

A focus on a narrow area of knowledge or skill, leading to greater efficiency and expertise in that area.

Farmer

An individual who engages in the act of agriculture, raising living organisms for food or raw materials.