Transactions Costs Refer to

question 19

Multiple Choice

Transactions costs refer to

• A)fixed costs of capital.
• B)variable costs of labor.
• C)costs of exchange unrelated to production costs.
• D)economies of scale.

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Definitions:

Entrepreneurship Career Options

The various pathways and opportunities available for individuals pursuing careers in creating, managing, and developing new businesses or ventures.

Managerial Functions

Encompass planning, organizing, leading, and controlling, which are the core responsibilities of managers in an organization.

Managerial Skills

The capabilities and competencies that a manager needs to perform their duties effectively, which include technical, human, and conceptual skills.

Manager's Job

The set of responsibilities held by an individual in a managerial position, including planning, organizing, leading, and controlling resources to achieve organizational goals.