As Long as the Marginal Benefit from a Good Is

question 167

True/False

As long as the marginal benefit from a good is greater than its marginal cost, an economy is operating efficiently.

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Definitions:

Task-Technology

The relationship between the tools and systems used in work processes and the tasks they are designed to support or enhance.

Organizational Effectiveness

The measure of how successfully an organization achieves its goals and objectives through the efficient use of resources.

Divisional Departmentalization

Organizational structure where divisions are formed based on products, services, or markets, with each division containing its own resources and functions.

Functional Departmentalization

An organizational structure where the company is divided into departments based on their functions or roles, such as marketing, finance, human resources, and more.