A Large, Complex Organization in Which Employees Work Within Specific

question 127

Multiple Choice

A large, complex organization in which employees work within specific levels of rank and authority to carry out the policies of that organization is called a(n)

• A) bureaucracy.
• B) autocracy.
• C) democracy.
• D) theocracy.

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Definitions:

Per-Worker Production Function

A measure of the relationship between the average output produced by each worker and the inputs used in production.

Capital Per Worker

The average amount of capital (tools, machinery, etc.) available for each employee in the production process.

Net Present Value (NPV)

A method used in capital budgeting to evaluate the profitability of an investment or project, calculated by summing the present values of incoming and outgoing cash flows over the life of the investment.

Working Capital

The measure of a company's liquidity, efficiency, and its short-term financial health, calculated as current assets minus current liabilities.