Tammy Is a Member of the Board of Directors of Moon

question 24

Multiple Choice

Tammy is a member of the Board of Directors of Moon Corporation. Her husband is the manager of a large division. What type of director is Tammy?

• A) inside director
• B) outside director
• C) gray director
• D) resident director

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Definitions:

Diminishing Returns

A principle stating that if one factor of production is increased while others remain constant, the overall returns will eventually decrease after a certain point.

Marginal Resource Cost

The additional cost incurred by employing one more unit of a resource.

Total Resource Cost

The total costs incurred for the production of goods and services, including all raw materials, labor, and overhead.

Resource

An asset or input used to produce goods and services, including time, money, labor, and natural resources.