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Sharpen Your Knowledge with the [Microeconomic Theory Basic Principles and Extensions, Nicholson,12e] Test Bank

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Boost your chances of acing your exams with the Test Bank for [Microeconomic Theory Basic Principles and Extensions, Nicholson,12e]. With practice exam questions that replicate official exams, and detailed answers for thorough understanding, you have all you need to pass the class. Let be your year of academic success

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July 27, 2023
Number of pages
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Written in
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1. The nature of management is to control and dictate others in an organization.
a. True

b. False

ANSWER: False



2. Recognizing the value of employees involves the organizing role of management.
a. True

b. False

ANSWER: False



3. Allocating resources across the organization is part of the organizing management function.
a. True

b. False

ANSWER: True



4. How an organization goes about accomplishing a plan is a key part of the management
function of controlling.
a. True

b. False

ANSWER: False



5. Where the organization wants to be in the future and how to get there defines controlling.
a. True

b. False

ANSWER: False



6. The use of influence to motivate employees to achieve the organization's goals refers to
controlling.

, a. True

b. False

ANSWER: False



7. Organizing means defining goals for future organizational performance and deciding on the
tasks and resources needed to attain them.
a. True

b. False

ANSWER: False



8. Controlling involves monitoring employee's activities and taking corrective action as
necessary.
a. True

b. False

ANSWER: True



9. Leading is the use of influence to motivate employees to achieve organizational goals.
a. True

b. False

ANSWER: True



10. When an organization is deliberately structured, it is designed to achieve some outcome, such
as making a profit.
a. True

b. False

ANSWER: True



11. An organization is a social entity that is goal directed and deliberately structured.

, a. True

b. False

ANSWER: True



12. Efficiency refers to the degree to which the organization achieves a stated objective.
a. True

b. False

ANSWER: False



13. All managers have to pay attention to costs and according to research, the best way to
improve organizational effectiveness is by severe cost cutting.
a. True

b. False

ANSWER: False



14. The ultimate responsibility of managers is to achieve high performance by balancing
efficiency and effectiveness.
a. True

b. False

ANSWER: True



15. Efficiency can be calculated as the amount of resources used to produce a product or service.
a. True

b. False

ANSWER: True



16. To perform effectively, all managers must possess conceptual, human, and technical skills,
though the degree of each skill necessary at different levels of an organization may vary.

, a. True

b. False

ANSWER: True



17. Only the top managers in organizations need conceptual skills since it involves planning.
a. True

b. False

ANSWER: False



18. A manager's ability to work with and through other people and to work effectively as a group
member is called human skills.
a. True

b. False

ANSWER: True



19. Technical skills are most important at lower organizational levels while conceptual skills
become more important as managers move up the organizational hierarchy.
a. True

b. False

ANSWER: True



20. One of the biggest mistakes during turbulent times is managers' failure to comprehend and
adapt to the rapid pace of change in the world around them.
a. True

b. False

ANSWER: True



21. The ability to motivate others is considered a technical management skill.

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