Jack Is the Business Head at Micron Computers

question 84

Multiple Choice

Jack is the business head at Micron Computers. The firm has set its revenue target for the year at $5 million. Jack will have to ensure that this financial target is met by providing necessary direction and guidance to the different department heads who are directly responsible for the execution of the work performed by their departments. In this scenario, the organization's various department heads have _________.

• A) operating responsibility
• B) consultative responsibility
• C) tacit responsibility
• D) latent responsibility
• E) specific responsibility

---

Definitions:

Optimum Market Basket

The combination of goods and services that maximizes a consumer’s utility for a given income and prices, representing the most preferred point on their budget line.

Indifference Curves

Graphical representations in microeconomics showing combinations of two goods that give a consumer equal satisfaction and utility.

Commodity Space Diagram

A graphical representation used in economics to show all possible combinations of two goods that an economy can produce using all available resources and technology.

Price Increase

A rise in the cost of goods or services, which can be caused by factors like inflation, increased production costs, or higher demand.