Three Basic Types of Control Systems Are Available to Executives

question 95

True/False

Three basic types of control systems are available to executives: input control, behavioral control, and tribe control.

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Definitions:

Output

The amount of goods or services produced by a person, machine, or industry.

Marginal Product

Marginal product refers to the additional output generated by employing one more unit of a specific factor of production, holding all other factors constant.

Labor

The exertion of mental or physical strength by humans to create goods and services.

Fixed Cost

Fixed cost refers to a cost that does not change with the level of goods or services produced by a business over a certain period.