Control Based on the Use of Pricing Mechanisms and Economic

question 119

Multiple Choice

Control based on the use of pricing mechanisms and economic information to regulate activities within organizations is referred to as ________ control.

• A)clan
• B)feedback
• C)market
• D)feedforward
• E)bureaucratic

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Definitions:

Past Experience

Refers to the events or interactions an individual or organization has encountered before the current moment, which can serve as a learning tool or guide for future actions.

Frequency of Occurrence

The rate at which a particular event or phenomenon happens over a specified period of time.

Just-In-Time (JIT) Scheduling

A logistics strategy where materials and products are produced or delivered only as needed, reducing inventory costs.

Timely Inventory Control

The practice of managing and optimizing stock levels to meet demand without incurring excess or shortage, ideally in a timely manner.