Term the rules and particles that govern the management of an organization ?
Correct answer: B. By laws
- A. Internal laws
- B. By laws
- C. Character
- D. Memorandum of articles
Explanation
Bylaws are the internal rules and procedures that govern an organization's management and operations. A memorandum of articles establishes constitutional details rather than serving as the general term for these operating rules.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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