Which of the Following Is the Best Example of a Vertical

question 6

Multiple Choice

 Which of the following is the best example of a vertical team?

• A) Jane, Jack, and Maria, as members of a team, have the authority and responsibility to make decisions and to participate in processes that help the team succeed.
• B) Kevin, a manager in the marketing department, had Jim and Jake, team members from the same department, reporting to him on the progress of an ongoing project.
• C) Sam, Ben, and Nick are team members working from three different locations on the same project, relying mainly on telephone calls and e-mails to interact with each other.
• D) Mike, the project manager, developed a team of middle managers from the marketing, finance, and production departments to work on a project together.

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Definitions:

Producer Surplus

The difference between the amount producers are willing to sell a good for and the actual amount they receive by selling it at the market price.

Total Surplus

The sum of consumer and producer surplus; represents the total net benefit to society from the production and consumption of a good or service.

Deadweight Loss

Economic efficiency is lost when the balance for a good or service is either not met or unattainable.

Tariff

A tax imposed on imported goods and services to regulate trade, increase government revenue, or protect domestic industries.