Henry Fayol's 14 Universal Principles of Management Includes ___________, the Principle

question 37

Multiple Choice

Henry Fayol's 14 Universal Principles of Management includes ___________, the principle that specialization of labor is necessary for organizational success.

• A) discipline
• B) authority
• C) the chain of command
• D) the division of work
• E) the unity of direction

---

Definitions:

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling over a specific period of time.

CPI

This index reflects the mean shift in costs over time for a collection of consumer goods and services as experienced by urban buyers.

Ear of Corn

An ear of corn is the part of the corn plant that contains the kernels, which are the seeds of the plant, encased in a husk.

Nominal Interest Rate

The interest rate before adjustments for inflation, often reported on a per annum basis.