If the Managers of a Private Firm Perform Poorly,each Owner

question 18

Multiple Choice

If the managers of a private firm perform poorly,each owner has the option of _____

• A)closing down the firm.
• B)selling his or her share of the firm.
• C)managing the firm himself or herself.
• D)not paying any taxes on the little profit he or she receives.
• E)selling off some of the equipment of the firm.

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Definitions:

Technical

Technical relates to skills, knowledge, or tasks that require specialized education or expertise, often associated with fields such as engineering, computing, or the sciences.

Technical Subsystem

The component of a larger system focused on the technological and operational functions necessary for the system's overall performance.

Production Function

An economic model that describes the relationship between inputs and the quantity of output produced.

Boundary-Spanning

refers to actions or roles within an organization that involve interaction with the external environment, such as engaging with clients, suppliers, or other stakeholders.