An Economic Model Includes

question 222

Multiple Choice

An economic model includes

• A) only normative statements.
• B) all known details in order to increase its accuracy.
• C) only details considered essential.
• D) no use of marginal concepts.

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Definitions:

Job Descriptions

A formal document that outlines the essential responsibilities, qualifications, and duties of a specific job position, serving as a foundation for hiring, performance evaluations, and role clarity.

Organic Structure

An organizational structure characterized by flexibility, decentralization of authority, minimal formal procedures, and encouragement of horizontal communication.

Organizational Structure

The framework that outlines how activities such as task allocation, coordination, and supervision are directed towards the achievement of organizational aims.

Decision Makers

Individuals or groups responsible for making choices that determine the course of actions to be taken.