Specialization in Production

question 64

Multiple Choice

Specialization in production

• A)Decreases total world output.
• B)Increases output.
• C)Reduces the standard of living.

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Definitions:

Conglomerate

A large corporation comprised of diverse and often unrelated businesses or industries, operated under one corporate group.

Acquisition

The process of obtaining control of another company by purchase or exchange of stock.

Organizational Cultures

The shared values, beliefs, norms, and practices that shape the social and psychological environment of an organization, influencing its members' behavior and attitudes.

Assimilation

The process by which individuals or groups of different backgrounds come to adopt the culture, beliefs, and practices of a larger community or society.