What is called the rules of laws which governs the internal affairs of an organization ?
Correct answer: C. By laws
- A. Corporate Laws
- B. Secondary Laws
- C. By laws
- D. Internal Laws
Explanation
Bylaws are the internal rules governing the management and operation of an organization, such as procedures for meetings and decision-making. Corporate laws are broader legal requirements imposed on companies by the state.
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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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