A Manager Who Is Directly Responsible for Executing a Function

question 72

Multiple Choice

A manager who is directly responsible for executing a function has ________.

• A) general responsibility
• B) specific responsibility
• C) operating responsibility
• D) cyclical responsibility
• E) consultative responsibility

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Definitions:

Excess Demand

A situation where the quantity demanded of a good or service exceeds the quantity supplied at the current price.

Shortage

A situation in a market where the demand for a product exceeds the supply, resulting in a lack of enough goods to satisfy consumer demand.

Surplus

Occurs when the quantity of a good or service supplied exceeds the quantity demanded, often resulting in a decrease in price.

Sellers

Individuals or entities that provide goods or services in exchange for payment, playing a critical role in the dynamics of supply and market operations.