What Are the Four Major Functions That Categorize the Principles

question 53

Essay

What are the four major functions that categorize the principles of management?

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Definitions:

Labor Union

An organization of workers formed to protect and advance their rights and interests, typically through collective bargaining.

Excess Supply

A situation where the quantity of a product offered by producers exceeds the quantity demanded by consumers, leading to surplus.

Equilibrium Market Wage

Another term for the wage rate at which the quantity of labor demanded equals the quantity supplied, ensuring labor market balance without excess supply or demand.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or gender.