Which of the Following Is Correct

question 10

Multiple Choice

Which of the following is correct?

• A) Organizational culture is a subset of organizational climate.
• B)Organizational climate is a subset of organizational culture.
• C) Culture is the perception of workers relative to the climate.
• D) Culture can change rather quickly with new leadership.
• E) Both a and d.

Understand the concept of markup percentages and their calculation.

Identify the cost-plus approach to product pricing.

Grasp the concepts of capacity utilization and its impact on profitability.

Differentiate between various cost methods in pricing (variable cost, total cost, product cost).

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Definitions:

Price Elastic

A term related to price elasticity of demand, indicating how responsive the quantity demanded of a good or service is to a change in its price.

Product

Anything that can be offered to a market to satisfy a want or need, including goods, services, and ideas.

Income Elasticity

A measure of how the demand for a good or service changes in relation to a change in income.

Good

A tangible product that satisfies human wants or needs.