Grouping Various Positions into Manageable Units Determines the ____ of the Organization

question 54

Multiple Choice

Grouping various positions into manageable units determines the ____ of the organization.

• A) chain of command
• B) span of management
• C) degree of centralization
• D) nature and degree of departmentalization
• E) degree of specialization

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Definitions:

Market Price

The current price at which an asset or service can be bought or sold in a specific market.

Market Output

The total amount of goods and services produced and offered for sale by all firms in a particular market.

External Cost

Costs that are not borne by the parties involved in an economic transaction but by other members of society.

Efficient Price

A price that reflects all available information and makes the best use of resources, minimizing waste and maximizing value.