Which of the Following Statements Is True of Objectives

question 85

Multiple Choice

Which of the following statements is true of objectives?

• A) Objectives of individual business units in a company tend to be stated in the most general terms.
• B) Objectives become more precise at the level of individual departments.
• C) Objectives at the highest level in an organization tend to be more specific.
• D) Objectives at the highest level in an organization are more concrete as they contain numerical targets.

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Definitions:

Industry Supply Curve

A graphical representation that shows the relationship between the price of a good and the total output of the industry over a range of prices.

Economic Profits

The variance between the sum of earnings and the sum of expenditures, encompassing both direct and indirect costs.

Industry Supply Curve

A graphical representation that shows the relationship between the price of a good and the total output of that good by all firms in the industry.

Diminishing Returns

A principle stating that as one factor of production increases while others remain fixed, there will eventually be a decrease in the incremental output gained.