The __________ Principle Calls for the Establishment of One Authority

question 42

Multiple Choice

The __________ principle calls for the establishment of one authority figure for each designated task of the organization;this person has the authority to coordinate all plans concerning that task.

• A)chain of command
• B)unity of direction
• C)formal organization
• D)hierarchy of relationships

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Definitions:

Double Counting

The error of including the same transaction or item more than once in a calculation or analysis, leading to inaccurate results.

Injections

Additional spending entering the economy, typically through government spending, investment, and exports, which stimulates economic activity.

Circular Flow

An economic model illustrating the continuous flow of goods and services, resources, and money between businesses and households in an economy.

Gross Domestic Product

A measure of the economic performance of a country, representing the total value of all goods and services produced over a specific time period.