A Practice Necessary for Safe and Efficient Organizational Operations Is

question 96

Multiple Choice

A practice necessary for safe and efficient organizational operations is called a/an

• A) economic viability requirement.
• B) business necessity.
• C) prerogative of management.
• D) bona fide occupational qualification.

---

Definitions:

Industry Demand

The total demand for the products or services produced by a specific industry, reflecting the collective demand of all consumers in the market.

Losses

Financial deficits that occur when the costs of operating a business exceed the revenue generated from selling goods or services.

P = MC

This equation represents the condition where the price (P) of a product equals the marginal cost (MC) of producing one additional unit, typically illustrating a firm's optimal production point in perfectly competitive markets.

MC = ATC

The condition where marginal cost equals average total cost, often used to identify the point of minimum average cost in the short run.