Which of the Following Terms Best Describes the Division of an Organization

question 33

Multiple Choice

Which of the following terms best describes the division of an organization into formal groupings?

• A)Complex hierarchy
• B)Coordination
• C)Control
• D)Hierarchy of authority
• E)Departmentalization

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Definitions:

Sales Price

The amount of money a buyer pays to purchase a product or service.

Monopolist

A market participant that is the sole provider of a product or service, possessing significant market power to set prices.

Economic Profits

The gap between the total income a business generates and all of its expenditures, taking into account both direct and hidden costs.

Average Total Cost

The total cost of production divided by the number of units produced, providing a per-unit cost of production.