Which Level of Management Is Responsible for Controlling Day-To-Day Operations

question 55

Multiple Choice

Which level of management is responsible for controlling day-to-day operations?

• A)top management
• B)middle management
• C)operations management
• D)executive management

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Definitions:

Elastic

A characteristic of a demand or supply curve which shows a high responsiveness to changes in price.

Inelastic

Refers to a condition in which the demand or supply of a product or service remains largely unaffected by variations in its price.

Pure Monopolist

A market scenario where a single company or entity exclusively controls the entire supply of a particular product or service, without any close substitutes or competition.

Socially Optimal

A condition or outcome that maximizes societal welfare, considering both efficiency and equity among members of society.