The Unbroken Line of Authority That Extends from the Top

question 87

Multiple Choice

The unbroken line of authority that extends from the top of the organization to the lowest echelon and clarifies who reports to whom is termed

• A)chain of command.
• B)authority.
• C)power.
• D)unity of command.
• E)power and authority structure.

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Definitions:

Purely Competitive Market

A market structure where no single buyer or seller has the power to influence prices, and products are perfectly substitutable.

Wage Rate

The standard amount of compensation an employee receives for performing a specific task or for working a certain amount of time, typically measured per hour or per unit of work.

Workers

Individuals engaged in any form of work either for wages, salary, or as independent contractors.

Product Price

The amount of money charged for a product or service, which can be influenced by production cost, supply and demand, and market competition.