Business Firm Refers to

question 77

Multiple Choice

business firm refers to

• A) a subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers.
• B) a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit.
• C) a privately owned organization that serves its customers to earn a profit so that it can survive.
• D) a group of people united through contractual or corporate ownership.
• E) a publicly owned organization that serves the general population.

Appreciate the generational diversity in the modern workplace and its implications.

Interpret HR practices in relation to organizational climate and effectiveness.

Grasp the relationship between organizational complexity and specialization.

Understand the concept of relevant and non-relevant costs in managerial decision-making.

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Definitions:

Young Old

Refers to the younger segment of the elderly population, often considered those aged 65 to 74, who are typically more active and healthy than older seniors.

Predictors

Variables or factors that can be used to forecast or estimate future events or outcomes.

Social Class

A division of society based on social and economic status, affecting individuals' lifestyles, education, and occupational opportunities.

Cohesion

The degree to which components of a system work or stick together as a united whole, commonly used to refer to group solidarity or unity.