Effective Management Includes Planning and ____

question 19

Multiple Choice

Effective management includes planning and ____.

• A)organizing
• B)leading
• C)controlling
• D)All of the above

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Definitions:

Means of Production

The physical, non-human inputs used for the production of economic value, such as factories, tools, and raw materials.

Standard of Living

measures the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a geographic area.

Barter

An exchange system where goods and services are traded directly without the use of money as a medium.

Adam Smith

was an 18th-century Scottish economist and philosopher, best known for his works on the principles of free market economies.