The Approach Using Management Tools and Techniques in a Situationally

question 23

Multiple Choice

The approach using management tools and techniques in a situationally appropriate manner is referred to as

• A) one-best way approach
• B) contingency approach
• C) total quality management approach
• D) deming approach
• E) e-business approach

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Definitions:

Consumer Price Index

An index that measures the change over time in the price level of a basket of consumer goods and services.

Monetary Policy

Measures undertaken by a government's central bank to control the money supply and influence economic conditions.

Supply of Money

The sum of financial resources present within an economy at a certain point in time.

General Level of Prices

An average or overall measure of the prices of goods and services in an economy at a given time, often used to assess inflation.