The Task of Managers to Evaluate How Well an Organization

question 72

Multiple Choice

The task of managers to evaluate how well an organization has achieved its goals and to take any corrective actions needed to maintain or improve performance is ________.

• A) planning
• B) organizing
• C) leading
• D) controlling

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Definitions:

Marginal Utility

The additional satisfaction or utility a consumer gets from consuming one more unit of a good or service.

Total Utility

The total satisfaction received from consuming a particular quantity of a good or service.

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can purchase with a given income and prices of the goods.

Money Income

This term describes the total earnings received by an individual or household, including wages, salaries, and other forms of monetary income.