Which Part of the Communication Process Provides a Check to the Sender

question 63

Multiple Choice

Which part of the communication process provides a check to the sender on whether understanding has been achieved?

• A) understanding
• B) encoding
• C) decoding
• D) feedback
• E) verification

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Definitions:

Economic Profits

Profits calculated by subtracting both explicit and implicit costs from total revenue.

Explicit Costs

Direct, out-of-pocket payments for wages, rent, materials, and other inputs necessary for a business to operate.

Economic Profit

The distinction between gross revenue and total expenditures, inclusive of both explicit and latent costs.

Normal Rate

Typically refers to a benchmark interest rate considered to be standard based on historical averages, often used by central banks.