_____ Is a Measure of How Efficiently and Effectively Managers

question 27

Multiple Choice

_____ is a measure of how efficiently and effectively managers use available resources to satisfy customers and achieve organizational goals.

• A) Organizational input
• B) Diversification
• C) Organizational performance
• D) Product development
• E) Differentiation

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Definitions:

Contribution Margin

The amount by which a product's sales revenue exceeds its variable costs, used to cover fixed costs and contribute to profits.

Unit Selling Price

The cost at which a single unit of product is sold to customers, important for determining pricing strategies and profitability.

Unit Variable Cost

The cost associated with producing one additional unit of a product.

Break-even Point

The stage at which total revenues equal total costs, resulting in neither profit nor loss for the business.