The Officer of the Company Who Has the Ultimate Responsibility

question 126

Multiple Choice

The officer of the company who has the ultimate responsibility for implementing the company's long and short-term goals is the ________.

• A) Chief Financial Officer
• B) Chair of the Board
• C) Chief Executive Officer
• D) Chief Officer for Human Relations

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Definitions:

Income Effect

The alteration in the consumption habits of a person or an economy due to a variation in actual income.

Inferior Good

A type of good for which demand decreases when income increases, and vice versa, unlike normal goods where demand increases with an increase in income.

Marginal Utility

The additional enjoyment or value that comes from the consumption of one more unit of a product or service.

Optimal Consumption

The allocation of resources or choosing of goods and services that maximizes the utility or satisfaction of a consumer, given their budget constraints.