The Process of Defining, Measuring, Appraising, Providing Feedback On, and Improving

question 64

Multiple Choice

The process of defining, measuring, appraising, providing feedback on, and improving performance is called:

• A)MBO (Management by Objectives)
• B)a control system
• C)performance management
• D)performance appraisal

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Definitions:

Excludable

Referring to a good, describes the case in which the supplier can prevent those who do not pay from consuming the good.

Nonrival

A property of a good or service where its consumption by one individual does not reduce availability for others, often found in public goods.

Private Good

A good that is both excludable and rivalrous, meaning it can only be used by one person at a time, and access to it can be restricted.

Excludable

A characteristic of a good or service that allows owners or producers to prevent others from using it without permission or payment.