Measures Which Monitor Critical Performance Variables That Help Managers Track

question 118

True/False

Measures which monitor critical performance variables that help managers track progress toward achieving a company's strategic goals are collectively called diagnostic control systems.

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Definitions:

World Commodity Prices

The prices of goods such as oil, gold, coffee, etc., that are traded internationally and can fluctuate due to supply and demand dynamics.

Disinflation

A reduction in the rate of inflation; a slowdown in the rate at which prices increase over time.

Sacrifice Ratio

An economic ratio that measures the effect of rising unemployment on the reduction of inflation within an economy.

Inflation Rate

The rate at which the general level of prices for goods and services is rising, and, subsequently, eroding purchasing power.