If an Organization Ensures That a Chain of Command or Hierarchy

question 88

Multiple Choice

If an organization ensures that a chain of command or hierarchy is well established, which characteristic of an effective bureaucracy does it exhibit?

• A) qualifications
• B) division of labor
• C) authority
• D) ownership
• E) rules and controls

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Definitions:

Producer Surplus

The difference between the amount that a producer is paid for a good or service and the lowest amount they are willing to accept for that good or service.

Consumer Surplus

The gap between the price consumers are prepared to pay and the actual price they pay for a product or service, signifying the advantage received by consumers.

Price Floor

A legal minimum price below which a good or service cannot be sold.

Pharmaceutical Companies

Pharmaceutical companies are businesses licensed to research, develop, market, and distribute drugs, typically in the context of healthcare.