In a Command System

question 38

Multiple Choice

In a command system:

• A) Self-interest motivates and commands each business firm's decisions and actions
• B) The head of each family decides what to do with the family's resources
• C) The government makes production and allocation decisions
• D) Market traders command what outputs are produced and how they are allocated

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Definitions:

Technical Skills

Specific abilities or competencies required to perform particular tasks or operate specific equipment or software.

First-level Manager

A manager who is directly responsible for overseeing the work of entry-level employees, typically the first layer of management in an organization.

Organizing Function

The organizing function involves arranging resources and tasks to achieve the objectives of an organization efficiently.

Supervising

The process of overseeing and directing the work and performance of others in a professional setting.