Relative Scarcities Are Indicated by

question 315

Multiple Choice

Relative scarcities are indicated by

• A)supply and demand being out of equilibrium.
• B)surpluses.
• C)excess demand and excess supply.
• D)relative prices.

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Definitions:

Competing Values Framework

A model that categorizes organizational cultures based on two dimensions: flexibility versus stability and internal versus external focus, highlighting the competing demands organizations face.

Hierarchy Culture

An organizational culture characterized by a structured setup where decisions follow a strict top-down approach, emphasizing control and defined roles.

Stability

is the state of being steady, consistent, and free from significant change or variation, often considered desirable in various contexts like economies, ecosystems, or personal lives.

Internal Focus

Refers to an organization's emphasis on its internal operations, processes, and employees, aiming to improve efficiency and work environment.