The Demand for a Business Product That Results from the Demand

question 154

Multiple Choice

The demand for a business product that results from the demand for a consumer product is referred to as

• A)sequential demand.
• B)selective demand.
• C)primary demand.
• D)secondary demand.
• E)derived demand.

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Definitions:

Limited Partnership

A limited partnership is a form of partnership consisting of at least one general partner, who manages the business and is personally liable for partnership debts, and one or more limited partners, who are liable only to the extent of their investments.

Policies

Formal guidelines or rules established by organizations to govern decision-making and establish boundaries for behavior.

Procedures

refer to established ways of doing things; these are step-by-step instructions or guidelines designed to achieve specific tasks or outcomes.

Matrix Structures

An organizational structure that combines two or more types of departmentalization, for example, functional and product, leading to dual reporting relationships for some employees.