An Ongoing Process in Which Managers Build and Refine Previous

question 25

Multiple Choice

An ongoing process in which managers build and refine previous plans and continually modify plans at all levels,corporate,business,and functional,so that they fit together into one broad framework,is known as:

• A) continuity.
• B) flexibility.
• C) accuracy.
• D) unity.
• E) synergy.

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of the consumer increases, opposite to the behavior observed with normal goods.

Normal Good

A good for which demand increases as the income of consumers increases and decreases as the income of consumers decreases, all else being constant.

Income

The financial gain received by an individual or a business in return for providing a good or service or through investing capital, typically measured over a set period of time.

Perfect Complements

Goods that are used together in fixed proportions, where the consumption or utility of one good directly impacts the effectiveness or utility of the other.