A __________ Is an Explicit Statement That Tells a Manager

question 69

Multiple Choice

A __________ is an explicit statement that tells a manager what he or she can or cannot do.

• A) procedure
• B) policy
• C) precedent
• D) heuristic
• E) rule

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Definitions:

Specialization

The process of focusing resources on the production of one or a few goods and services to increase efficiency.

Exchange

The process of exchanging one item for another, particularly one of similar type or value.

Production Possibilities

The various combinations of goods and services that can be produced within an economy given the available resources and technology.

United States

The United States is a country located in North America, characterized by a federal republic governance structure and a highly developed mixed economy.