You Have the Choice to Go Skiing During Spring Break,staying

question 201

Multiple Choice

You have the choice to go skiing during spring break,staying at the university to study,or spending the week visiting your family.If you decide to go skiing,the opportunity cost of the holiday is

• A)staying at the university to study because you need to improve your grades.
• B)staying at the university because your parents are paying your tuition.
• C)staying at the university or spending the week visiting your family,depending on what you would have done otherwise.
• D)nothing because you enjoy skiing.
• E)visiting your family because not visiting means that you will feel guilty.

Understand the use and implications of modern controls in organizational management by exception.

Know the distinctions between various types of bureaucracies and their organizational appropriateness.

Appreciate the concept of decentralization and its impact on organizational structure and decision-making.

Comprehend the mechanisms for linking the actions of organizational subunits into a consistent pattern.

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Definitions:

Service

An intangible commodity that involves providing labor or expertise in exchange for payment.

Stock Market

A public market for the trading of company shares and derivatives at an agreed price; it is a key indicator of economic health.

Price Ceiling

A price ceiling is a government-imposed limit on the maximum price that can be charged for a product or service, intended to protect consumers from excessive prices.

Consumer Durables

Goods that are not for immediate consumption and can be used repeatedly over a period of time, such as appliances, cars, and furniture.