In Decision by Authority Rule, the Chairperson, a Manager, or a Leader

question 49

True/False

In decision by authority rule, the chairperson, a manager, or a leader makes a decision for the group. This can be done with or without discussion and is very time efficient.

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Definitions:

Break-Even Point

The point at which total costs and total revenue are equal, resulting in no net loss or gain.

Variable Costs

Costs that vary in direct proportion to changes in the amount of production or activity, like costs for direct labor and raw materials.

Fixed Costs

These are expenses that do not change in total regardless of the level of production or sales activity, such as rent, salaries, and insurance.

Unit Sales Price

The price at which a single unit of product is sold.