A Small Business with Low Departmentalization, Wide Spans of Control

question 4

Multiple Choice

A small business with low departmentalization, wide spans of control, centralized authority, and limited formalization can be said to possess a__________ structure.

• A) divisional
• B) matrix
• C) simple
• D) functional

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Definitions:

Producer Surplus

The contrast between the price at which producers are willing to part with a good or service and the price at which they actually do.

Hamburgers

A beloved dish featuring a patty made from minced meat, commonly beef, cooked and nestled within a cut-open bread bun or roll.

Consumer Surplus

The difference between the maximum amount a consumer is willing to pay for a good or service and the amount they actually pay.

Demand Curve

A visual diagram that illustrates the connection between a product's price and the amount consumers want to purchase.