When Managers Work on Creating Conditions and Systems to Ensure

question 112

Multiple Choice

When managers work on creating conditions and systems to ensure that everything and everyone works together to achieve the organization's goals, they are involved in the ________ function of management.

• A) controlling
• B) leading
• C) planning
• D) organizing

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Definitions:

Price Discrimination

Price Discrimination is the strategy of selling the same product at different prices to different groups of customers, based on their willingness to pay.

Pure Monopolist

A market structure where a single company is the exclusive provider of a product or service in a market, facing no competition.

Economies of Scale

Economic benefits that companies gain from their size of operations, which result in a reduction in the cost per unit as the scale increases.

Horizontal Demand

A market situation where the demand for a product remains constant regardless of changes in its price.