An Organic Structure Has

question 166

Multiple Choice

An organic structure has

• A)functional departmentalization and a high degree of formalization.
• B)a narrow span of control and low formalization.
• C)a high degree of formalization and a wide span of control.
• D)decentralized decision making and low formalization.
• E)centralized decision making and a wide span of control.

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Definitions:

Long-Term Contracts

Agreements that extend over a significant period of time, often involving commitments to buy or sell goods or services or to provide employment.

Recessionary Gaps

Situations where an economy's actual output is less than its potential output, often characterized by unemployment and underutilized resources.

Natural Rate

The natural rate often refers to the unemployment rate when the economy is at full capacity, balancing the number of job seekers with job vacancies without accelerating inflation.

Recessionary Gap

A situation in macroeconomics where actual output is less than the potential output of an economy, often marked by high unemployment.