Universality of Management Means That __________

question 9

Multiple Choice

Universality of management means that __________.

• A) all managers in all organizations can perform their job the same way
• B) all organizations can hire any manager to perform the management jobs
• C) all managers in all organizations perform the four management functions
• D) any manager can work in any organization and perform any management job
• E) all managers in all organizations have the same basic skills

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Definitions:

Price Elasticities

A calculation that shows the responsiveness of the quantity demanded of a good to its price alterations.

Tax Burden

Tax burden describes the impact of taxation on an individual or entity's financial position, measuring how much of their income is taken by taxes.

Supply Curves

A graphical representation of the relationship between the price of a good and the quantity of that good that suppliers are willing to produce and sell, under given conditions.

Marginal Cost

The cost incurred to produce one additional unit of a product or service.