At Aqua Inc

question 24

Multiple Choice

At Aqua Inc.,there are specific steps to be completed when applying for a day off.First an employee has to apply to his/her immediate supervisors.After getting their approval,he/she has to get it signed by the branch manager.Then a copy of the leave application has to be submitted to the HR department.These mandatory steps are most appropriately referred to as ____.

• A) policies
• B) ethics
• C) procedures
• D) goals

---

Definitions:

Marginal Decision Rule

A principle stating that an action should be taken if and only if the marginal benefits outweigh the marginal costs.

Dry-Cleaning Market

The sector of the economy that provides services of cleaning clothes and textiles using a chemical solvent rather than water.

Monopolistically Competitive

Describes a market structure in which many firms sell products that are similar but not identical, allowing for some degree of market power.

Economic Profits

A rephrased definition: The surplus achieved by a firm after accounting for both the operating expenses and the opportunity costs of all resources employed.