Which Approach Is the Oldest, and One of the Most

question 5

Multiple Choice

Which approach is the oldest, and one of the most popular, approaches to management thought?

• A) Contingency
• B) Universal process
• C) Operational
• D) Systems theory
• E) Behavioral

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Definitions:

Dynamic Pricing

A pricing strategy where the price of a product or service is flexible, changing in response to market demand, competitor prices, or other external factors.

Economy-Class Seats

The most basic and least expensive seating category available on commercial airlines, designed for budget-conscious travelers.

Dynamic Pricing

A pricing strategy where prices are adjusted in real time based on demand, competition, and other external factors.

Supply

The total amount of a product or service available for purchase in the market.