________ Involves Ensuring That Work Activities Are Completed Efficiently and Effectively

question 56

Multiple Choice

________ involves ensuring that work activities are completed efficiently and effectively by the people responsible for doing them.

• A) Leading
• B) Managing
• C) Planning
• D) Organizing

---

Definitions:

Price Change

A variation in the cost of goods or services over time in the marketplace.

Substitution Effect

The substitution effect occurs when consumers replace pricier items with less expensive alternatives as prices rise, thereby altering their consumption patterns.

Demand Reduction

A decrease in the quantity of a good or service that consumers are willing and able to purchase at a given price.

Price Increase

An upward adjustment in the selling price of goods or services, often due to factors like increased production costs or higher demand.