The First Person to Identify the Managerial Functions of Planning

question 56

Multiple Choice

The first person to identify the managerial functions of planning, organizing, leading, and controlling was:

• A) Elton Mayo.
• B) Lillian Gilbreth.
• C) Henri Fayol.
• D) Hugo Munsterberg.
• E) Mary Parker Follett.

---

Definitions:

Wage Rate

The amount of money paid to a worker per unit of time, usually expressed per hour or year.

Supply Curve

A graphical representation showing the quantity of goods that producers are willing and able to sell at different prices.

Market for Labor

The economic marketplace where employers find workers and workers find jobs.

Backward-Bending

Referring to the labor supply curve, it describes the scenario where an increase in wage rates leads to a decrease in the hours worked due to an increase in income effect over substitution effect.