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Question 1:

Which concept describes the minimum and maximum number of subordinates that can be effectively managed by a supervisor?

Work Specialization Span of Control Chain of Command Authority and Responsibility

Question 2:

Which of the following is a principle of management according to Henri Fayol?

Customer satisfaction Profit maximization Innovation and creativity Unity of command

Question 3:

The practice of assigning specific tasks to individuals or groups to ensure specialization is known as:

Unity of Command Authority Discipline Division of Work

Question 4:

In the case of an inferior good, an increase in consumer income will likely lead to:

No change in the quantity demanded A decrease in the quantity demanded A shift in the supply curve An increase in the quantity demanded

Question 5:

In the context of decision-making, 'satisficing' means:

Relying solely on intuition Choosing the best possible alternative Choosing an alternative that meets minimum criteria Avoiding making a decision

Question 6:

How does empowering lower-level employees through decentralization affect decision-making?

It results in decisions being escalated to higher management. It leads to quicker and more responsive decisions. It increases the uniformity of decisions across the organization. It decreases the motivation of lower-level employees.

Question 7:

Which of the following is not a form of business organization?

Trade union Public corporation Joint venture Cooperative society

Question 8:

The highest governing body in a Joint Stock Company is the:

General Meeting of Shareholders Chief Executive Officer Management Committee Board of Directors

Question 9:

Which of the following is not a characteristic of a Joint Stock Company?

Transferability of shares Separate legal entity Unlimited liability of shareholders Perpetual succession

Question 10:

The income elasticity of demand for a normal good is:

Positive Infinite Negative Zero

Quiz: Business Organization & Management