What Is a Very Traditional Form of Coordination

question 109

Multiple Choice

What is a very traditional form of coordination?

• A)Direct supervision
• B)Standardization of work processes
• C)Standardization of outputs
• D)Standardization of skills
• E)Standardization of inputs

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Definitions:

Equilibrium

In economics, a state where market supply and demand balance each other, and as a result, prices become stable.

Coconuts

Tropical fruits or the hard-shelled seeds of the coconut palm, often used metaphorically in economics and game theory to represent tradable resources.

Civic Authorities

Government officials or bodies responsible for governing a city or town, and managing local services and regulations.

Long-run Supply Function

An economic concept that describes the total quantity of products that firms are willing to supply over a long period, taking into account the adjustments in production factors and technology.