Which of the Following Statements Correctly Describes the Early Practice

question 92

Multiple Choice

Which of the following statements correctly describes the early practice of management?

• A) The practice of management began about 100 years ago.
• B) Early economists were concerned with managerial efficiency and effectiveness.
• C) By 1900,most organizations were large.
• D) Survival was not an issue in most organizations before 1900.
• E) The scientific study of management as a field of inquiry dates back to the nineteenth century.

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Definitions:

Budget Surplus

When federal tax receipts are greater than federal government spending.

Budget Deficit

A budget deficit occurs when an entity, typically a government, spends more money than it receives in revenue over a specific period.

Exports

Goods or services sent to another country for sale.

Dumping

The practice of selling a product in a foreign market at a price that is below the cost of production or below the price in the home market, often with the aim of driving out competition.