The Equation Q = 0

question 61

Multiple Choice

The equation Q = 0.5KL - (0.4) L + 2L2 is an example of

• A) a factor of production equation.
• B) an arithmetic expression of output quantities.
• C) a technological change equation.
• D) a production function.
• E) an economic input function.

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Definitions:

Organic Designs

Organic designs are decentralised with fewer rules and procedures, open divisions of labour, wide spans of control and more personal coordination.

Human Resources

The department in organizations concerned with the recruitment, management, and direction of people who work in it, focusing on policies and systems.

Contingency

An event or condition that is possible but cannot be predicted with certainty, often requiring flexible planning and response strategies.

Mechanistic Organisational Design

A highly structured and formal organisational structure, characterized by clear hierarchies, rigid departmentalization, and strict procedural guidelines.