The Performance Management Criteria Must Be Linked to the Vision,mission,goals,and

question 15

True/False

The performance management criteria must be linked to the vision,mission,goals,and strategies of the organization and unit.

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Definitions:

Responsiveness of Quantity

The degree to which the quantity demanded or supplied responds to changes in price, income, or other factors.

Responsiveness of Price

The degree to which the demand or supply of a product changes in response to a change in price.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the extra satisfaction or utility gained.

Market Price

is the current price at which a product, security, or commodity can be bought or sold in a marketplace.