At the Acme Global Corporation, the Top Manager Reports to the Board

question 95

Multiple Choice

At the Acme Global Corporation, the top manager reports to the board of directors.The board is not involved in the day-to-day operations of the organization, but it can hire or fire top management.This represents the influence of _______ in the external environment on the organization.

• A)shareholders
• B)society
• C)technology
• D)economics
• E)governments

Differentiate between explicit and implicit costs in short-run total cost calculations.

Apply the principle of marginal analysis to business and economic decisions.

Understand the concept of marginal cost and how it affects decision-making in production.

Grasp the concept of marginal benefit and its importance in optimizing resource allocation.

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Definitions:

Intuitive Appeal

The natural attractiveness or persuasiveness of an idea or concept that feels right or acceptable without extensive rationale or logic.

Laissez Faire Leadership

A leadership style where leaders take a hands-off approach, allowing team members to make decisions and solve problems independently.

Transactional Leadership

A leadership style focused on supervision, organization, and group performance, where rewards and punishments are used as motivators.

Innate Leadership

The natural ability or inborn tendency to lead others.