________ Involves Monitoring Performance and Making Necessary Changes

question 40

Multiple Choice

________ involves monitoring performance and making necessary changes.

• A)Budgeting
• B)Planning
• C)Organizing
• D)Leading
• E)Controlling

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Definitions:

Cost-oriented Approaches

Pricing strategies that consider the costs of producing, distributing, and selling a product, plus a fair rate of return for effort and risk.

Experience-curve Pricing

A pricing strategy that reduces prices based on the gained efficiency and cost savings from increased production levels over time.

Hydroelectric Power Plants

Facilities that generate electricity by using the flow of water to drive turbines, a renewable and clean source of energy.

Cost-plus-fixed-fee Pricing

A pricing strategy where a fixed fee is added on top of the costs associated with producing and selling a product.