Which of the Following Is NOT a Basic Tenet of Classical

question 21

Multiple Choice

Which of the following is NOT a basic tenet of classical organization theory?

• A) Organizations exist to accomplish production-related and economic goals.
• B) Production is maximized through specialization and division of labor.
• C) People in organizations act in accordance with Nicolo Machiavelli's principles.
• D) People in organizations act in accordance with rational economic principles.

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Definitions:

Monopolistically Competitive

Refers to a market structure where many firms sell products that are similar but not identical, leading to competition based on product differentiation.

Barriers To Entry

Economic, procedural, or regulatory obstacles that prevent new competitors from easily entering an industry or area of business.

Oligopolistic

Pertaining to a market structure where a small number of firms dominate the industry, influencing prices and marketing strategies.

Perfectly Competitive

A market structure characterized by a complete absence of rivalry among the sellers and an infinite number of buyers and sellers, where no single buyer or seller has market power.