CUET Business Studies 2024
Business Studies
Controlling
Medium
Only a 5% increase in labour cost may be more troublesome than a 15% increase in postal charges.' Identify the concept pointed out in the direction.
Only a 5% increase in labour cost may be more troublesome than a 15% increase in postal charges.' Identify the concept pointed out in the direction.
✅ Correct Option: 2
Deviation → Variation from expected results. We have not been told of any expected results. So this is definitely not our answer.Critical point control → Managing key performance thresholds. Labor cost is an important direct expense when compared to postal charges. Hence, even a small increase in labor cost is worthy of receiving the due attention.Break-even analysis → Assessing profit vs. costs. The statement does not talk about profit and costs; we can safely eliminate this optionCritical path method → Scheduling project tasks efficiently. We don't have any information about the scheduling of tasks. So this is also not the correct option.
Critical point control -> emphasizes the importance of monitoring specific cost increases, like labour, that can significantly impact overall operations compared to other costs, such as postal charges.
Critical point control -> emphasizes the importance of monitoring specific cost increases, like labour, that can significantly impact overall operations compared to other costs, such as postal charges.
Related questions:
CUET Business Studies 2024
CUET Business Studies 2024