A Good Economic Theory

question 102

Multiple Choice

A good economic theory

• A)has realistic assumptions
• B)contains as much detail as possible
• C)cannot be proven false
• D)predicts well
• E)can only be presented in mathematical terms

---

Definitions:

Product Departmentation

A method of organizing a company based on the different products manufactured or services provided.

Functional Departmentation

The process of organizing a business into distinct departments, each responsible for a specific function or area, such as marketing or finance.

Centralized

The concentration of control, authority, or decision-making power within a singular or limited locale or organization hierarchy.

Communication

The process of sharing information, ideas, feelings, and messages through speech, writing, signals, or behaviors.