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An Organisation That Has Division of Labour, Clearly Defined Hierarchy

question 80

Multiple Choice

An organisation that has division of labour, clearly defined hierarchy, detailed rules, and impersonal relationships would be described as what organisational type?


Definitions:

Industry Entry

The process by which a business or company begins to operate in a specific industry.

Monopolistically Competitive

Refers to a market structure where many firms sell products that are similar but not identical, allowing them some power to set prices due to product differentiation.

Purely Competitive

A market structure characterized by many sellers offering identical products, with no single seller able to influence the market price.

Perfectly Elastic

A situation in which the quantity demanded or supplied responds infinitely or massively at a particular price point.

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