Which of the Following Statements Is Most Likely to Be

question 94

Multiple Choice

Which of the following statements is most likely to be true about generalists?

• A) Generalists concentrate their competences and skills to compete for resources in a single niche.
• B) Generalists are more likely to use matrix organizational structure than specialists.
• C) Generalists are more likely to use product differentiation strategy than the specialists.
• D) Generalists can often outcompete specialists when there is considerable uncertainty in the environment.

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Definitions:

Zero Economic Profits

Occurs when a firm earns just enough revenue to cover its total costs, including opportunity costs, but no more.

Efficiently

Performing or functioning in the best possible manner with the least waste of time and effort.

Economies of Scale

The cost advantage achieved by businesses when production becomes efficient, as the scale of operation increases leading to a reduction in average costs.

Positive Economic Profits

Earnings that exceed the total costs, including both the explicit and implicit costs of a business.