A Significant Advantage of the Matrix Structure Is the Clear

question 8

True/False

A significant advantage of the matrix structure is the clear chain of command from top to bottom of the organisation.

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Definitions:

Allocative Efficiency

A state of the market where resources are allocated in a way that maximizes the net benefit to society, ensuring that every good or service is produced up to the point where the last unit provides a benefit equal to its cost of production.

Productive Efficiency

A situation where the economy or a production process is unable to produce more of one good without reducing the production of another good, using available resources in the best way.

Normal Goods

Goods for which demand increases as consumer income rises, and decreases as consumer income falls, reflecting a direct relationship between income and demand.

Competitive Market

A market structure characterized by a large number of buyers and sellers, homogenous products, and no single buyer or seller can influence the market price.