Which of the Following Would Be Considered an Example of an Element

question 151

Multiple Choice

Which of the following would be considered an example of an element of an informal control system?

• A) procedures developed by first level managers to help guide staff in their daily work
• B) a policy that requires all employees to take at least two weeks of vacation each year
• C) Shared values within an organization's culture
• D) the master budget

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Definitions:

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits that buyers and sellers receive from participating in the market.

Tax

A compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures.

Good

A tangible product or item that satisfies some human want or need.

Equilibrium Quantity

The quantity of goods or services supplied is exactly equal to the quantity demanded at the market price.