Answer:
Self Interest & Invisible Hand of Laissez Faire Policy
Explanation:
Adam Smith Laissez Faire Policy - suggests that free markets are the best approach for welfare maximisation of a society, based on self interest guiding best decisions by individuals, and individual wealth & welfare maximisation implies society wealth & welfare maximisation.
The Invisible Hand of free markets corrects all the discrepancies (if any), re-guides self interest forming the basis of over all social interest. Government intervention is unnecessary & distortionary as per the theory
Answer:
The answer is D. Lagging Adopters
Explanation:
Lagging Adopters is the answer because, this group is slow to adapt to new ideas or technology. They tend to adopt only when they are forced to or because everyone else has already.
Answer:
A. 2 to 5 percent of sales
Explanation:
According to the text, management contracts usually stipulate that a fee of 2 to 5 percent of sales be paid to the firm providing the management expertise.
Answer: Control process
Explanation:
The control process of the management is one of the concept that helps in measuring, planning, organizing and also implementing the various types of functions in an organization.
The main objective of the control process in the management is that it helps in achieving the organizational goals and handle all the activities of the business such as production and the packaging process.
According to the given question, the control process of the management basically helps in monitoring the various types of performance of the products in an organization and also checking the errors for the purpose of resolving them.
Therefore, Control process is the correct answer.
