Your Team Has Been Charged with Developing a New Product

question 133

Short Answer

Your team has been charged with developing a new product within three months. The head of your department has informed you that it is up to the team to come up with ways of achieving this objective as long as it operates within stipulated parameters. Which of the following describes your team? a.group
b. functional team
c. cross-functional team
d. self-managed team

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Definitions:

Nonrival-in-Consumption

A characteristic of a good or service where its consumption by one individual does not reduce its availability for consumption by others.

Common Good

A societal benefit that is shared and beneficial for all (or most) members of a community, such as clean air, public parks, and national defense.

Government Provision

The supply of goods or services provided by the government to its citizens, often funded by taxation.

Economic Goods

Products or services that have a positive economic value and thus are subject to scarcity, requiring consumers to make choices about their allocation.