A Standing Plan That Acts as a General Guide to Action

question 39

Multiple Choice

A standing plan that acts as a general guide to action that applies to the employees of an organization is called a _____.

• A) belief
• B) rule
• C) policy
• D) standard operating procedure
• E) scenario

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Definitions:

Government Controlled

Refers to economic sectors, industries, or companies that are owned or regulated by the government.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity of the good supplied by producers.

Equilibrium Quantity

The quantity of goods or services at which supply equals demand in a market, leading to a stable price.

Demand Shifts

Changes in the consumer demand for a product or service, often caused by factors like changes in income, preferences, prices of related goods, and population demographics.