In Economics, an Organization That Produces a Good or Service

question 43

Multiple Choice

In economics, an organization that produces a good or service is called a

• A)firm.
• B)company.
• C)business.
• D)All of the above are correct.

---

Definitions:

Directing

The managerial process of influencing people's behavior to achieve organizational goals.

Estimated Manufacturing Costs

The projected or forecasted costs associated with the production of goods, including estimates for materials, labor, and overhead before the actual production takes place.

Production Levels

The amount of output or goods a company produces within a specific period, indicating the scale of its production operations.

Units Per Month

The quantity of products or services that a company produces or sells in a month.