The Major Advantage of the Virtual Organisation Is Its

question 57

Multiple Choice

The major advantage of the virtual organisation is its:

• A)flexibility.
• B)predictability.
• C)control.
• D)empowerment.

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Definitions:

Nominal Wage Rate

The wage rate paid to employees expressed in current dollars, without adjustment for inflation or purchasing power.

Real Wage Rate

The purchasing power of wages, adjusted for inflation, indicating the actual goods and services that can be bought.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource, like labor or capital.

Wage Rate

The amount of compensation paid per unit of time to an employee or worker for their services.