An Organisation Is _________

question 126

Multiple Choice

An organisation is _________.

• A)any collection of people who perform similar tasks
• B)a group of individuals focused on profit-making for their shareholders
• C)the physical location where people work
• D)a deliberate arrangement of people to accomplish some specific purpose

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Definitions:

Product Market

The marketplace where final goods or services are traded between producers and consumers.

Coordination Problem

A situation where the components of a system fail to work together effectively, leading to inefficient or undesirable outcomes.

Incentive Problem

A situation where the incentives or motivations of individuals or groups do not align with broader organizational or societal goals.

Continued Losses

Persistent financial deficits experienced by a business over multiple periods, indicating an inability to generate sufficient revenue to cover expenses.