Which ERM Objective Relates to the Effective and Efficient Use

question 61

Multiple Choice

Which ERM objective relates to the effective and efficient use of a corporation's resources?

• A)Operational objective
• B)Compliance objective
• C)Strategic objective
• D)Reporting objective

---

Definitions:

Supply and Demand

Fundamental economic concepts that describe how the availability of products (supply) and the desire for them (demand) determine prices.

Scarce

Describes resources or goods that are limited in availability and cannot satisfy all the wants and needs of consumers.

Positive Economics

A branch of economics focused on the description and explanation of economic phenomena, as opposed to normative economics which prescribes policies.

Value Judgments

Assessments based on personal or societal preferences, beliefs, or ethics, as opposed to objective measurements.