Which Statement Best Describes the Most Significant Difference Between a For-Profit

question 235

Multiple Choice

Which statement best describes the most significant difference between a for-profit organization or a business firm and a nonprofit organization?

• A)Business firms earn a profit each year while nonprofits operate at a deficit annually.
• B)Nonprofit organizations do not carry on economic activities while business firms do.
• C)Nonprofit organizations are concerned with social issues and business firms are not.
• D)Both serve customers,but business firms seek a profit while nonprofit organizations do not.
• E)Nonprofit organizations are publicly owned and business firms are privately owned.

Appreciate the need for reinforcement to follow a specific plan or schedule for effectiveness.

Grasp the concept of empowerment and its relation to self-efficacy and operant conditioning in management.

Understand the role of oral reprimands in correcting specific behaviors.

Learn the cultural nuances of symbols, such as flowers, indicating the significance of contextualizing rewards and communications.

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Definitions:

Average Revenue

The revenue received per unit of output sold.

Quantity Demanded

The amount of a product that consumers are willing and able to purchase at a given price.

Price

Price is the amount of money expected, required, or given in payment for something, reflecting the value of goods or services in monetary terms.

Motivational Concepts

Refers to the theories and principles that explain what drives and influences individuals to act and behave in certain ways.